Asian Paints on Wednesday reported a net profit of Rs 408.75 crore for the quarter ending March 2016, up 19.9% year-on-year from the corresponding quarter's Rs 340.97 crore.
Asian Paints on Wednesday reported a net profit of Rs 408.75 crore for the quarter ending March 2016, up 19.9% year-on-year from the corresponding quarter’s Rs 340.97 crore.
“The decorative business segment in India registered double digit volume growth in the fourth quarter. Lower raw material prices aided gross margins,” said KBS Anand, managing director & CEO, Asian Paints.
Net sales for the quarter grew by 12.28% at Rs 3919.23 crore from Rs 3490.39 of the previous year’s quarter. While the net sales for the quarter were above the Bloomberg Consensus estimates, net profit and operating profit numbers were below estimates. The quarter witnessed an increase in the other expenses as the expenditure towards corporate social responsibility increased to Rs 14.61 crores from Rs 7.62 crore of the previous quarter.
Operating profits saw an increase of 27.53% at Rs 628.43 during the quarter ending March 2016.
Operating profit for Q4FY15 was recorded at Rs 492.75 crore. Operating profit margins were up 15.82% expanding 189 points.