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Saturday, 28 March 2020
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Markets & companies, Coatings market

Asian Paints consolidated income from operations up by 11.6 %

Monday, 22 July 2013

Asian Paints has announced its financial results for the first quarter ended 30 June 2013. K.B.S. Anand, Managing Director & 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."

According to Asian Paints first quarter figures, paints volume grew in double digits.

According to Asian Paints first quarter figures, paints volume grew in double digits.

"Industrial paints segment continues to be affected by the economic slowdown. Automotive coatings growth was subdued due to lower demand in the auto sector. International Business registered good growth. Middle East and Asia have done well even though some countries continued to be affected by political events and macro-economic uncertainty” he added.
For the quarter ended 30 June 2013, on consolidation of accounts of the subsidiaries and joint ventures of Asian Paints – Net Profit of the Group is 275.2 crores (1 crore = EUR 100.000; INR 1 = EUR 0.01) as compared to 288.4 crores in the previous corresponding quarter. Income from operations has risen by 11.6 % to 2841.1 crores from 2546.1 crores. PBDIT for the group has increased by 4% to 464.7 crores from 446.6 crores. Profit before Tax is 423.9 crores as compared to 426.2 crores in the previous corresponding quarter.

Asian Paints is India’s largest paint company and ranked among the top ten Decorative coatings companies in the world with a consolidated turnover of 10,970 crores (109.70 billion). Asian Paints along with its subsidiaries have operations in 17 countries across the world with 25 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints – Egypt, Asian Paints, Apco Coatings and Taubmans.

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