After all-round Q1 beat\, Asian Paints may find it hard to convince Street

After all-round Q1 beat, Asian Paints may find it hard to convince Street

On a consolidated basis, Asian Paints reported a 42.8% year-on-year decline in revenue at Rs 2,923 crore, while profit before tax was down 70.2% year-on-year at Rs 306 cr

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Asian Paints | Q1 results | Lockdown

Shreepad S Aute  |  Mumbai 

The quarter ending June 2020 (Q1) was expected to be a complete washout for companies operating in sectors like paints amid the Covid-19-led disruptions. For Asian Paints, too, analysts were expecting its volumes to plunge by 50 - 55 per cent year-on-year.

However, the decorative paints leader surprised the Street not only with better-than-expected numbers, but also with good volume recovery – 14 per cent growth – in the month of June. Volume decline in Q1 was also lower-than-expected. On a consolidated basis, Asian Paints reported a 42.8 per cent year-on-year ...
First Published: Fri, July 24 2020. 19:58 IST