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Asian Paints Consolidated Net Profit Increases by 34.1%

Published on 2005-08-09. Author : SpecialChem

  • Net sales for the group has increased by 24.3%
  • Paints Business of Asian Paints - India has grown by 28.5%
  • Industrial Coatings businesses has grown in excess of 30%
  • International operations has grown by 10%

MUMBAI -- Asian Paints announced their results for the first quarter ended June 30, 2005.

The Asian Paints group operates through various subsidiaries all across the world." On consolidation of the company’s accounts of its subsidiaries for the quarter ended" June 30, 2005, Net Sales for the group has increased by 24.3% to Rs. 6630.60 million" from Rs. 5332.95 million for the corresponding quarter of the previous financial year." Profit before depreciation, interest and tax (PBDIT) increased by 15.3 % to Rs. 869.18" million from Rs. 754.16 million. Profit before Tax and after amortization of goodwill" increased of 23.9% to Rs. 683.93 million from Rs. 551.99 million. Net profit after" minority interest has increased by 34.1% to Rs. 437.80 million from Rs. 326.56 million" for the corresponding quarter of the previous financial year.

Asian Paints Limited - Stand Alone Results

For the quarter ended June 30, 2005, on a standalone basis Asian Paints Limited Net" Sales increased by 27.1 % to Rs. 5105.89 million from Rs. 4017.70 million for the" corresponding quarter of the previous financial year. Profit before depreciation," interest and tax (PBDIT) increased by 19.8 % to Rs. 788.31 million from Rs. 657.81" million. Profit before tax has increased by 26.7 % to Rs 672.20 million from" Rs. 530.40 million. Net Profit for Asian Paints Limited registered an increase of 32.1%" at Rs. 441.73 million as compared to Rs. 334.49 million for the corresponding quarter" of the previous financial year.

Asian Paints is India's largest paint company, ranked among the top ten Decorative Coatings Companies in" the World with a group turnover of INR 25.6 billion. Asian Paints along with its various subsidiaries has" operations in 22 countries across the world with 30 paint manufacturing facilities, servicing consumers in" over 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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