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Asian Paints Announce Financial Results for Q1

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By: KERRY PIANOFORTE

Editor, Coatings World, Coatings World

Asian Paints has announced its financial results for the first quarter ended June 30, 2013. K.B.S. Anand, Managing Director and CEO, Asian Paints Limited, stated: “The Decorative paints business in India did well considering the challenging and uncertain macro environment. Paints volume grew in double digits. Raw material prices were by and large stable with a softening bias, but were affected by the Depreciation of Rupee.”

For the quarter ended June 30, on consolidation of accounts of the subsidiaries and joint ventures of Asian Paints – net profit of the froup is 275.2 crores as compared to 288.4 crores in the previous corresponding quarter. Income from operations has risen by 11.6  percent  to 2841.1 crores from 2546.1 crores. PBDIT for the group has increased by four percent to 464.7 crores from 446.6 crores. Profit before Ttax is 423.9 crores as compared to 426.2 crores in the previous corresponding quarter.

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