Asian Paints posts 8% YoY rise in net profit at Rs 508 crore
ETMarkets.com|
Updated: Oct 24, 2017, 03.12 PM IST
NEW DELHI: Asian Paints on Tuesday said its consolidated net profit after non-controlling interest rose 8 per cent year-on-year (YoY) to Rs 508.42 crore for the September quarter.
The company had reported a net profit of Rs 470.83 crore in the same quarter last year.
Revenue for the quarter rose 13.7 per cent to Rs 4,274.18 crore, compared with Rs 3,757.66 crore in corresponding quarter of last year.
The paint maker has announced interim dividend of Rs 2.65 per share.
The decorative business registered high single digit growth. This segment was impacted by destocking due to GST.
The company said that the impact of GST was seen in July, though the month of September saw recovery of sorts.
The company had reported a net profit of Rs 470.83 crore in the same quarter last year.
Revenue for the quarter rose 13.7 per cent to Rs 4,274.18 crore, compared with Rs 3,757.66 crore in corresponding quarter of last year.
The paint maker has announced interim dividend of Rs 2.65 per share.
The decorative business registered high single digit growth. This segment was impacted by destocking due to GST.
The company said that the impact of GST was seen in July, though the month of September saw recovery of sorts.
