Asian Paints consolidated net profit for Q4 increases by 10.1%

Asian Paints Ltd has announced its financial results for the quarter and 12 months ended March 31, 2017.

"The decorative business segment in India registered a low double digit growth in the current quarter after witnessing some recovery from the impact of demonetisation. Raw material prices have moved up over the past two quarters necessitating price increases to protect margins. Good demand conditions in the Auto OEM and General Industrial business segment led to improved performance of the Automotive Coatings JV (PPG-AP). In the Industrial Coatings JV (AP-PPG), Industrial Liquid Paints, Road Marking Paints and Powder Coatings segment registered good growth,” said KBS Anand, MD and CEO, Asian Paints Limited.

For the quarter ended March 31, 2017, on consolidation of accounts of the subsidiaries and associate of Asian Paints – Revenue from operations has risen by 8.9% to INR4416.23 crores from INR4053.83 crores. Profit before depreciation, interest, tax and other income (PBDIT) for the group increased by 2.1% to INR711.87 crores from INR697.05 crores. Profit Before Tax (PBT) increased by 4.9% to INR689.48 crores from INR657.56 crores. Net Profit after Minority Interest increased by 10.4% to INR462.22 crores compared to INR418.70 crores yr-on-yr.

For the 12 months ended March 31, 2017, Asian Paints Group revenue from operations has increased by 7.8% to INR17,084.76 crores from INR15,841.69 crores. PBDIT for the group has increased by 9.1% to INR3021.43 crores from INR2769.15 crores. The Board of Directors recommended the payment of a final dividend of INR5.65/equity share (565%).