- Higher expenses hurt Asian Paints profit in July-September
- Net profit at Rs 493 crore, as against Rs 576 crore a year ago
- Revenue from operations up over 8.5% at Rs 4,639 crore
Asian Paints on Monday posted a 14.4 per cent fall in second-quarter profit, which missed analysts' estimates, hurt by higher expenses.
Net profit fell to Rs 493 crore ($67.02 million) in the September quarter from Rs 576 crore a year earlier, the company said in a statement.
Analysts, on an average, had expected the Mumbai-based company to post a profit of Rs 578 crore, according to Refinitiv Eikon data.
Revenue from operations rose over 8.5 per cent to Rs 4,639 crore while total expenses rose about 11 per cent in the quarter.
Shares in Asian Paints closed 3.1 per cent lower ahead of release of quarterly earnings by the company.
($1 = Rs 73.5550)
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