Asian Paints Q4 net edges lower to ₹487 crore
1 min read . Updated: 09 May 2019, 03:29 PM IST- High raw material prices and marketing spends affected the margins
- Asian Paints shares fell 2% in late trade
NEW DELHI: Asian Paints today reported dip in net profit for the quarter ended March 31, hurt by high raw material prices and higher marketing spends. Net profit dropped to ₹487 crore, down from ₹495 crore in the previous corresponding period. Asian Paints revenue from operations rose to 11.7 % to ₹5,018 crore, from ₹4,492 crore in the year-ago period.
The decorative business segment in India registered double-digit volume growth in the fourth quarter while the industrial coatings JV (AP-PPG) witnessed good growth in the dealer channel for both, powder and protective coatings.
But automotive coatings JV (PPG-AP) growth was impacted as a result of the slowdown in the auto segment.
"Challenging business conditions affected operations in some of the key markets in our international business portfolio, especially Egypt, Ethiopia, Bangladesh and Sri Lanka. The kitchen and bath business in the home improvement portfolio grew well and we continue to work on scaling up these operations further," said KBS Anand, managing director & CEO of Asian Paints.
Asian Paints recommended dividend of ₹7.65 per equity share. Asian Paints shares were trading 2% lower at ₹1,360 in late trade.