Asian Paints Q1 net up 26% at Rs 222 cr

Asian Paints's consolidated net profit has increased 26.2 per cent to Rs 222.2 crore in the first quarter this fiscal as against Rs 176.1 crore in the year-ago period.

Sales and operating income is up 25.3 per cent to Rs 1,830.2 crore in the reviewed period as against Rs 1,460.2 crore in the year-ago period, a press release issued here today stated.

"The company has done well during the quarter driven by favourable demand for decorative coatings across the country. Demand conditions for international and industrial businesses were challenging, although automotive coatings business performed well," Asian Paints' Chief Executive Officer and Managing Director P M Murty said.

Raw material prices, however, have increased considerably and this would lead to pressure on margins in the coming quarters, he added.

On a standalone basis, the company clocked a 22.2 per cent jump in its net profit in Q1 FY 11 at Rs 201 crore from Rs 164.4 crore in the year-ago period.

Net sales in the reporting quarter increased by 28 per cent to Rs 1,491.1 crore from Rs 1,164.8 crore, the release said.