Asian Paints Q2 Results: Shares of Asian Paints Ltd., India’s largest paints manufacturing company surged as much as 6% on Wednesday, November 12, in response to its September quarter results. The company reported domestic decorative volume growth of 10.9% for the September quarter, which is well above the CNBC-TV18 poll, that had projected the figure to be between 4% to 5%. Asian Paints’ Net profit increased by 47% from the same quarter last year to ₹1,018 crore from ₹693 crore during the base quarter. Watch this space for all the key highlights.
Asian Paints Q2 Results Highlights: Shares of Asian Paints Ltd., India’s largest paints manufacturing company surged as much as 6% on Wednesday, November 12, in response to its September quarter results. The company reported domestic decorative volume growth of 10.9% for the September quarter, which is well above the CNBC-TV18 poll, that had projected the figure to be between 4% to 5%. Asian Paints’ Net profit increased by 47% from the same quarter last year to ₹1,018 crore from ₹693 crore during the base quarter. The same quarter last year also had a one-time loss of ₹180 crore. The number is higher than the CNBC-TV18 poll of ₹890 crore. Revenue for the quarter increased by 6.4% from last year to ₹8,531 crore, which is higher than the CNBC-TV18 poll of ₹8,105 crore. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 21.3% from last year to ₹1,503 crore. The figure is higher than the CNBC-TV18 poll of ₹1,325 crore. EBITDA margin grew by over 200 basis points from last year to 17.6% from 15.4% last year, also higher than the CNBC-TV18 poll of 16.3%. Watch for all the key highlights.