Asian Paints shares surge nearly 9 pct on robust earnings

Oct 21 2013, 21:14 IST
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Asian Paints reported an increase of 36.66 per cent in consolidated net profit at Rs 326.84 crore. Reuters Asian Paints reported an increase of 36.66 per cent in consolidated net profit at Rs 326.84 crore. Reuters
SummaryAsian Paints shares gained 6.07 per cent to settle the day at Rs 516.50 at the BSE.

Shares of Asian Paints Ltd today surged nearly 9 per cent on the NSE after the company reported an increase of 36.66 per cent in consolidated net profit for its second quarter ended September 30.

At the NSE, the scrip was up 8.81 per cent per cent to end the trade at Rs 529.80.

Asian Paints shares gained 6.07 per cent to settle the day at Rs 516.50 at the BSE. During the day, the stock jumped 8.7 per cent to Rs 529.35 -- its 52-week high on the BSE.

In terms of volume, 7.10 lakh shares of Asian paints changed hands on the BSE, while over 44 lakh shares were traded on the NSE.

Asian Paints today reported an increase of 36.66 per cent in consolidated net profit at Rs 326.84 crore for its second quarter ended September 30.

The company had posted a consolidated net profit of Rs 239.16 crore in the same period of previous fiscal, Asian Paints said in a filing to the BSE.

Asian Paints net sales of the company during July- September quarter of the current fiscal were Rs 3,084.06 crore, compared to Rs 2,612.41 crore in the year-ago period.

For the first half of the 2013-14 fiscal, Asian Paints consolidated net profit increased by 14.12 per cent to Rs 602.04 crore, as against Rs 527.54 crore in the year-ago period.

Asian Paints Consolidated net sales in H1, April-September, also increased to Rs 5,902.59 crore as against Rs 5,149.80 crore in the same period last year.

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