This Article is From Oct 22, 2014

Asian Paints Posts Profit of Rs 347.30 Crore in Q2

Asian Paints Posts Profit of Rs 347.30 Crore in Q2

New Delhi: Asian Paints Ltd on Wednesday reported a consolidated net profit of Rs 347.30 crore on the back of net sales of Rs 3,586.75 crore for the second quarter that ended on September 30, 2014.

The company had posted a net profit of Rs 326.84 crore and net sales of Rs 3,084.06 crore in the corresponding period a year ago.

Asian Paints said the result of the quarter under review is not comparable with the corresponding quarter of the previous year as it acquired 51 per cent stake in kitchen solutions provider Sleek International Pvt Ltd in August 2013.

Overall expenses in the quarter stood at Rs 3,163.61 crore. In the second quarter of the previous year, the same stood at Rs 2,664.13 crore.

"Double digit volume growth was witnessed across regions in the decorative paint segment... The international business was led by good growth in markets like Bangladesh, Nepal and Oman," Asian Paints managing director and chief executive KBS Anand said.

Shares in Asian Paints, on Wednesday, ended at Rs 649.90 apiece on the BSE, up 0.79 per cent from the previous close.