Asian Paints consolidated net profit up 84% at Rs 852 cr in March quarter

Asian Paints reported over 84 per cent jump in its consolidated net profit at Rs 852 crore for the January to March quarter as compared to Rs 462 crore in the previous corresponding period

Asian Paints on Wednesday reported over 84 per cent jump in its consolidated net profit at Rs 852 crore for the January to March quarter as compared to Rs 462 crore in the previous corresponding period.

Revenue from operations rose by more than 43 per cent to Rs 6,651 crore from Rs 4,636 crore in the same period.

Profit before depreciation, interest, tax and other income (PBDIT) for the group increased by 53 per cent to Rs 1,318 crore in Q4 FY21 from Rs 860 crore in Q4 FY20.

Profit before tax from continuing operations increased by 65 per cent to Rs 1,156 crore from Rs 699 crore.

"We have seen a very strong quarter aided by good demand across rural and urban areas at the country level," said Amit Syngle, Managing Director and CEO.

"On the heels of a healthy Q2 and Q3 recovery, this quarter saw exceptional growth across businesses and consumer segments. The performance has been outstanding, discounting even the slightly lower base last year same quarter," he said.

For the 12 months ended March 31, Asian Paints Group revenue from operations increased by 7.4 per cent to Rs 21,713 crore from Rs 20,211 crore in FY20.

Net profit rose by 16 per cent to Rs 3,139 crore as compared to Rs 2,710 crore, the company said in a statement.

The board of directors has recommended a final dividend of Rs 14.50 per equity share. The company distributed first interim dividend of Rs 3.35 per equity share in November 2020 for FY 2020-21.

Total dividend of Rs 17.85 per equity share was distributed for FY 2020-21. The dividend payout ratio was 56.1 per cent for FY 2020-21.

Asian Paints along with its subsidiaries have operations in 15 countries across the world with 26 paint manufacturing facilities, servicing consumers in over 60 countries.

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