Asian Paints today reported 10.13 per cent increase in consolidated net profit to Rs 479.61 crore for the March quarter of last fiscal. The company had in comparison posted a net profit of Rs 435.47 crore in the January-March quarter of 2015-16. The total income of the company rose 9.38 per cent to Rs 4,486.34 crore in the fourth quarter of 2016-17, as against Rs 4,101.41 crore during the same period last fiscal. “Our International business performed well aided by strong performance in markets like Nepal, Jamaica, Fiji, Oman and Bahrain,” Asian Paints CEO and MD KBS Anand said.
Asian Paints also announced the re-appointment of Anand as the CEO and Managing Director of the company for a further two years. For the entire fiscal 2016-17, the firm’s consolidated net profit surged to Rs 2,016.24 crore as against Rs 1,802.78 crore in 2015-16, up 11.84 per cent. Total income stood at Rs 17,347.36 crore for the fiscal compared with Rs 16,055.08 crore in 2015-16. “Both the segments in the Home improvement category viz. the Kitchen and the Bath business delivered good topline growth in the quarter,” Anand said. The company has recommended a dividend of Rs 5.65 per equity share in addition to Rs 2 per share of face value Re 1 each.