Asian Paints Q3FY 22 result: Revenue from operations sees 25.6% jump; net profit down by 18%

Asian Paints on Thursday reported decline in consolidated net profit (non-controlling interest) by 18 per cent to Rs 1015.69 crore in the quarter ended December 31, 2021, against Rs 1,238.34 crore in the same quarter last year.  

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For the quarter ended December 31, 2021, Asian Paints Group Revenue from operations has increased by 25.6 % to ₹8,527.24 crores from ₹6,788.47 crores, said the company. Profit before depreciation, interest, tax and other income (PBDIT) for the group (before share in profit of associates) decreased by 13.7 % to ₹1,542.31 crores from ₹1,787.89 crores. Profit Before Tax decreased by 17.9 % to ₹1,393.72 crores from ₹1,696.76 crores. Net Profit after Non- controlling Interest decreased by 18.0 % to ₹1,015.69 crores as compared to ₹1,238.34 crores in the previous corresponding period. 

"The domestic Decorative business registered yet another strong double digit growth performance, five quarters in a row, with a 18% volume growth, on a strong base of the previous year. The Industrial Coatings business also registered a robust double digit revenue growth especially in the Protective Coatings segment. However, the automotive coatings business was impacted by the challenges facing the automotive sector,"said Amit Syngle, Managing Director & CEO, Asian Paints Limited. 

For the nine months ended December 31, 2021, Asian Paints Group Revenue from operations has increased by 40.8 % to ₹ 21,208.61 crores from ₹ 15,061.36 crores. PBDIT for the group (before share in profit of associates) has decreased by 5.0 % to ₹ 3,360.32 crores from ₹ 3,537.34 crores. Profit Before Tax decreased by 4.7 % to ₹ 2,998.54 crores from ₹ 3,148.04 crores. Net Profit after Non-controlling. Interest decreased by 4.7 % to ₹ 2,180.15 crores as compared to ₹ 2,287.16 crores in the previous corresponding period