Asian Paints misses Q2 profit estimates on muted sales

Asian Paints on Thursday reported a smaller-than-expected jump in second-quarter profit, hurt by muted sales.

The paint maker reported a consolidated net profit of Rs 12.05 billion ($144.90 million) for the quarter ending Sept. 30, below analysts’ estimate of Rs 12.42 billion, as per LSEG data.

Revenue from operations was largely flat, with a 0.3% rise to Rs 84.79 billion.