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This is an archive article published on May 11, 2023
Asian Paints net profit jumps 45% in March quarter to Rs 1,234 crore
Asian Paints' board has recommended a final dividend payout of Rs 21.25 per equity share for the last financial year.
Asian Paints' consolidated revenue from operations rose by 11.33 per cent to Rs 8,787.34 crore in the March quarter, as compared to Rs 7,892.67 crore in Q4FY22. (File image)
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Asian Paints net profit jumps 45% in March quarter to Rs 1,234 crore
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Asian Paints’ consolidated net profit in the fourth quarter rose 45 per cent to Rs 1,234.14 crore on the back of easing input costs and strong demand for decorative paints. The paintmaker’s net profit in the same quarter the previous year stood at Rs 850.4 crores.
The company’s consolidated revenue from operations rose by 11.33 per cent to Rs 8,787.34 crore in the March quarter, as compared to Rs 7,892.67 crore in Q4FY22.
Asian Paints’ board has recommended a final dividend payout of Rs 21.25 per equity share for the last financial year. The dividend is subject to the approval of the shareholders and if approved, it will be paid on or after June 30, 2023.
The company’s PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) increased by 29.2 per cent to Rs 1,864.8 crores in the fourth quarter from Rs 1,443.3 crore in Q4FY22.
Its consolidated Q4 net sales increased by 10.9 per cent to Rs 8,750.8 crores from Rs 7,889.9 crores.
Asian Paints CEO and MD Amit Syngle said, “It has been an outstanding year for us with a 14% volume growth and 20% value growth in our standalone business and a net profit growth of 31%. Our growths in both the Industrial coatings have been stellar, growing double digits in volume and value, delivering one of the highest profits in the last 2 decades.”
He said, “We have been able to improve our margins in the quarter sequentially and over last year through our persistent work on formulation and sourcing efficiencies and also helped by the easing inflation in raw material prices.”
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