NEW DELHI: Asian Paints reported a growth of 4 per cent in its consolidated profit after tax (PAT) during the financial year ending March 31, 2018. Company's PAT stood at Rs 2,097.52 crore as against Rs 2,016.25 it registered in the previous fiscal.Its consolidated net income in FY18 was Rs 17,482.85 crore a 2 per cent rise from the income it recorded in the financial year 2017.
Asian Paints' net income in Q4 FY18 was Rs 4,531.52 crore as against Rs 4,425.25 crore it recorded in the similar quarter last year.
"The decorative paint business in India registered double digit volume growth in the current quarter with improved demand conditions. Material prices continued to witness an upward trend thereby exerting pressure on margins which was mitigated to an extent by the price increases taken," said KBS Anand, managing director and CEO, Asian Paints.
Company's net profit was Rs 495.91 crore in the quarter ending March 31, 2018.
The board of directors have recommended a payment of final dividend of Rs 6.05 per equity share of the face value of Rs 1 each for the financial year ending March 31, 2018.