Asian Paints Q2 net at Rs 347 cr on good sales

Written by fe Bureau | Mumbai | Updated: Oct 23 2014, 07:07am hrs
On the back of its sales performance, FMCG company Asian Paints on Wednesday reported a consolidated net profit of R347.30 crore for the second quarter ended September 30 compared to R326.84 crore a year earlier.

With a consolidated turnover of R12,714.8 crore for FY14, the company has posted net sales of R3,586.75 crore against R3,084.06 crore in the year-ago-period.

According to the company, the result is not comparable with the corresponding quarter of the previous year as it acquired 51% in kitchen solutions provider Sleek International in August 2013.

KBS Anand, MD & CEO, said, Double-digit volume growth was witnessed across regions in the decorative paint segment. The automotive coatings JV (PPG-AP), saw good growth in the general industrial and auto refinish segments.

He said, the international business was led by good growth in markets like Bangladesh, Nepal & Oman. We continue to work on our plans for network expansion and streamlining of operations for the Sleek Business, he added.