Asian Paints Q4 net profit rises by 10%; declares dividend
In Q4, the company posted consolidated net profit of Rs 462.22 crore, rising by 10.40% compared to Rs 418.70 crore in the corresponding period of the previous year.
Asian Paints missed analysts estimated as it reported a 10% rise in its consolidated net profit for the fourth quarter ended March 2017, result.
In Q4, the company posted consolidated net profit of Rs 462.22 crore, rising by 10.40% compared to Rs 418.70 crore in the corresponding period of the previous year.
A bloomberg estimated net profit to be at Rs 469 crore in Q4.
K.B.S Anand, Managing Director of Asian Paints said, “The decorative business segment in India registered a low double digit growth in the current quarter after witnessing some recovery from the impact of demonetisation. Raw material prices have moved up over the last two quarters necessitating price increases to protect margins.”
Consolidated revenue from operations stood at Rs 4,416.23 crore, witnessing growth of 8.93% year-on-year (YoY) and 1.42% quarter-on-quarter (QoQ).
Anand added, “Good demand conditions in the auto OEM and general industrial business segment led to improved performance of the automotive coatings JV (PPG – AP). In th Industrial Coatings JV, industial liquid paints, road marketing paints and powder coatings segment registered good growth.”
EBITDA (operating profit) increased by 2.1% to Rs 711.87 crore compared to Rs 697.05 crore a year ago same period.
In its meeting held on Thursday, the company's board declared a final dividend of Rs 5.65 per share and also a special dividend of Rs 2 per share for celebrating 75 years of excellennce at Asian Paints.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
04:51 PM IST