Asian Paints Q1 net profit up 17%

For the quarter ended June 30, 2016, on consolidation of accounts of the subsidiaries and associate of Asian Paints – income from operations increased by 10.2% to 4082.1 crores from 3703.0 crores. PBDIT for the quarter increased by 20.9% to 820.3 crores (yr-on-yr 678.6 crores). Net profit after minority interest for the quarter increased by 17.9% to 535.0 crores from 453.7 crores.

"The decorative business segment in India registered double digit growth in the quarter. Lower raw material prices led to improved margins. Industrial business registered good growth in the Industrial Liquid Paints category for the company’s JV, AP-PPG, while the other JV, PPG-AP saw good demand in the Auto OEM and General Industrial segment. Our International business performed well, aided by good growth in markets like Nepal, UAE and Fiji. Both the segments in the Home Improvement category delivered good topline growth in the quarter as compared to the previous year,” said KBS Anand, MD & CEO, Asian Paints Limited.