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Asian Paints Consolidated Net Profit for the Quarter Increases by 11.8%

Published on 2006-02-01. Author : SpecialChem

MUMBAI, India -- Asian Paints announced their financial results for the quarter and nine months ended December 31, 2005.

Asian Paints Consolidated Results, Q3-FY'06

For the quarter ended 31st December 2005, on consolidation of accounts of the subsidiaries and joint venture of Asian Paints – Sales & operating Income for the group has increased by 10.9 % to Rs. 8181.5 million from Rs. 7374.7 million. Profit before depreciation interest and tax (PBDIT) for the group has increased by 3.3 % to Rs. 1173.2 million from Rs. 1135.4 million. Profit before Tax after goodwill has increased by 4.9 % to Rs. 976.4 million from Rs. 930.9 million. Net profit after minority interest has increased by 11.8 % to Rs 626.3 million from Rs. 560.3 million for the previous corresponding quarter.

Commenting on the results, Mr. Ashwin Dani, Vice Chairman & Managing Director, Asian Paints Limited, said "In the nine months to date, we have had steady growth in all segments of decorative coatings and across all regions of the country. This is in spite of the Diwali season being impacted by prolonged and heavy rains. However, underlying demand is good and we look forward with confidence. Sales from our industrial as well as international operations registered steady positive growths. In our domestic operations, we have also seen a softening of raw material prices in the last quarter."

Asian Paints Consolidated Results, 9M-FY'06

For the nine months ended 31st December 2005, Asian Paints group – Sales & operating Income has increased by 16.3 % to Rs. 22540.7 million from Rs.19382 million. Profit before depreciation interest and tax (PBDIT) for the group has increased by 9.7 % to Rs. 3193.6 million from Rs. 2192.2 million. Profit before Tax after goodwill has increased by 14.1 % to Rs. 2623.2 million from Rs. 2299.8 million. Net profit after minority interest has increased by 20.5% to Rs. 1655.7 million from Rs.1374.1 million.

About Asian Paints

Asian Paints is India's largest paint company and ranked among the top ten Decorative Coatings Companies in the World with a group turnover of INR 25.6 billion(USD 585 million). Asian Paints along with its various subsidiaries has operations in 22 countries across the world and 29 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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