Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Asian Paints Q3 profit up 1.5% at Rs489.31 crore
BackBack

Asian Paints Q3 profit up 1.5% at Rs489.31 crore

Asian Paints' total income from operations rose 2.56% to Rs4,353.99 crore for the December quarter from Rs4,245.16 crore last fiscal

Shares of Asian Paints Ltd fell 0.16% to close at Rs964.25 per share on Monday on the BSE, while the benchmark index, Sensex gained 0.31% to close at 27117.34 points.Premium
Shares of Asian Paints Ltd fell 0.16% to close at Rs964.25 per share on Monday on the BSE, while the benchmark index, Sensex gained 0.31% to close at 27117.34 points.

Mumbai : Asian Paints said fiscal third-quarter profit rose 1.5% to Rs489.31 crore because of muted growth in its paint business.

Asian Paints’ total income from operations rose 2.56% to Rs4,353.99 crore for the quarter ended 30 December from Rs4,245.16 crore in the corresponding period last fiscal.

The earnings missed market estimates. In a Bloomberg poll, 21 analysts had estimated consolidated net sales at Rs4,127 crore and net profit at Rs503.6 crore.

The decorative business segment in India registered low single digit growth in the quarter with demand impacted to a certain extent because of demonetisation. The international business reported good numbers specifically aided by contribution from good pick-up in demand in Nepal, Fiji and certain units in the Middle East. Performance in key market of Egypt was impacted by the devaluation of the local currency, said Asian Paints managing director and chief executive K.B.S. Anand.

Shares of Asian Paints Ltd fell 0.16% to close at Rs964.25 per share on Monday on the BSE, while the benchmark index, Sensex gained 0.31% to close at 27117.34 points.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 23 Jan 2017, 08:52 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie