Asian Paints Q2 net profit grows 37

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 BSE filing.

Consolidated 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.

The decorative paints business in India fared very well and registered double digit volume growth. Good growth witnessed across geographies especially in tier 2 and tier 3 cities, Asian Paints MD amp; CEO KBS Anand said.

The industrial paints segment continued to be affected by the slowdown,while automotive coating growth was subdued due to lower demand in the auto sector,he added.