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Asian Paints Q3 Profit Jumps 62% To Rs 1,265 Cr

'Profitability across businesses has been well supported by a good sales mix and some excellent work in cost optimization & sourcing measures pursued strongly through innovation programs,'

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Asian Paints on Thursday reported a 62.28 per cent jump in its consolidated profit to Rs 1,265.35 crore for the third quarter ended December 31, 2020. The company had posted a profit of Rs 779.71 crore during the same period of previous fiscal. Revenue from operations for October-December quarter stood at Rs 6,886.39 crore, up 25.43 per cent, as against Rs 5,490.11 crore reported in the same period of 2019-20 fiscal, Asian Paints Ltd said in a regulatory filing. Amit Syngle, Managing Director & CEO, Asian Paints said demand conditions continued to exhibit a strong recovery across business segments, spread over most regions in the third quarter of this financial year. 'The domestic decorative business delivered a powerful performance with more than 30 per cent volume growth led by a strong performance in premium and luxury portfolios. The Home Décor foray of Asian Paints got a big fillip from a strong performance of the Home Improvement business'.

Syngle said the international business recorded a double-digit volume growth, strongly led by good growth in Asia and Middle East. 'Profitability across businesses has been well supported by a good sales mix and some excellent work in cost optimization & sourcing measures pursued strongly through innovation programs,' he added.

Shares of Asian Paints closed 0.62 per cent higher at Rs 2,714.65 apiece on BSE.

(PTI)


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asian paints Home Improvement business home decor