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Asian Paints Announces a 12.5% Growth in Consolidated Net Sales in Q1, 2012

Published on 2012-07-23. Author : SpecialChem

MUMBAI -- Asian Paints announced its financial results for the first quarter ended June 30, 2012.

"The Decorative paints business in India did well considering the challenging macro environment. We are witnessing downward trend in cost of raw materials but Depreciation of Rupee remain a concern area," said K.B.S. Anand, Managing Director & CEO, Asian Paints Limited. "The Auto and other Industrial business saw some pressure due to subdued demand. Political events and macro economic uncertainty in some countries continue to affect international performance." he added.

Consolidated Results: Q1-FY'13: For the quarter ended June 30, 2012, on consolidation of accounts of the subsidiaries and joint venture of Asian Paints - Net Profit of the Group has increased by 9.4 % to INR 288.4 crores from INR 263.7 crores over the previous corresponding quarter. Income from operations has risen by 12.5 % to INR 2547.9 crores from INR 2265.6 crores. PBDIT for the group has increased by 12.5 % to INR 446.6 crores from INR 397.1 crores. Profit before Tax has increased by 10.2 % to INR 426.2 crores from INR 386.8 crores.

Standalone Results: Q1-FY'13: For the quarter ended June 30, 2012, Net Profit on a standalone basis increased by 9.7 % to INR 274.6 crores from INR 250.4 crores. Income from operations increased by 6.7 % to INR 2055.9 crores from INR 1926.5 crores. PBDIT for the quarter increased by 12.2 % to INR 404.7 crores from INR 360.8 crores. Profit before tax has increased by 9.9% to INR 394.8 crores from INR 359.2 crores.

About Asian Paints Limited

Asian Paints is India's largest paint company and ranked among the top ten Decorative coatings companies in the world with a turnover of INR 96.32 billion. Asian Paints along with its subsidiaries have operations in 17 countries across the world with 24 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints - Egypt, Asian Paints, Apco Coatings and Taubmans.

Source: Asian Paints Limited

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