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Asian Paints announced their financial results for the first quarter ended June 30, 2006

Published on 2006-07-31. Author : SpecialChem

Mumbai -- Asian Paints announced their financial results for the first quarter ended June 30, 2006.

Asian Paints Consolidated Results: Q1-FY'07:

For the quarter ended June 30, 2006, on consolidation of accounts of the subsidiaries and joint venture of Asian Paints – Net Profit of the Group has increased by 37.7% to Rs. 603.0 million from Rs. 437.8 million over the previous corresponding quarter. Sales & Operating Income has risen by 17.3% to Rs. 7773.0 million from Rs. 6625.8 million. Profit before depreciation interest and tax (PBDIT) for the group has increased by 26.3 % to Rs. 1096.9 million from Rs. 868.4 million. Profit before Tax after goodwill has increased by 33.3 % to Rs. 911.9 million from Rs. 683.9 million.

Commenting on the results, Mr. Ashwin Dani, Vice Chairman & Managing Director, Asian Paints Limited, said "Demand was buoyant in almost all segments of the business; this, we believe reflects the robust economic growth in the country and the continuing construction boom. Our operations were able to record excellent growth; given our strengths in product range and geographic representation, we are well positioned to take advantage of the opportunities. The international business recorded satisfactory growth in the first quarter."

Asian Paints Standalone Results : Q1-FY'07

For the quarter ended June 30, 2006, Net Profit on a standalone basis increased by 30.8 % to Rs. 580.2 million from Rs. 443.7 million. Net Sales increased by 18.3% to Rs. 6033.9 million from Rs. 5099.7 million. PBDIT for the quarter increased by 27.2% to Rs. 1002.9 million from Rs. 788.3 million. Profit before tax and extraordinary item was Rs. 880.1 million compared to Rs. 672.2 million for the previous corresponding quarter, an increase of 30.9 %.

About Asian Paints

Asian Paints is India's largest paint company with an annual turnover of INR 30.2 billion (USD 680 million). Asian Paints along with its subsidiaries has operations in 22 countries across the world and 30 manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints- Egypt, Asian Paints, Apco Coatings and Taubmans. The company has an enviable reputation in the corporate world for professionalism, fast track growth and building shareholder equity.

Source: Asian Paints


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