Asian Paints Q3 net up 16% at Rs 5.67 bn on growth at international markets

Total income during quarter under review stood at Rs 43.17 billion as against Rs 43.15 billion in Oct- Dec period last fiscal

Asian Paints on Monday reported a 15.92 per cent increase in its consolidated net profit at Rs 5.67 billion (Rs 567.21 crore) for the quarter ended December 31, 2017.

The company had posted a net profit of Rs 4.89 billion (Rs 489.31 crore) during the same period of the previous financial year, Asian Paints said in a regulatory filing.

Total income during the quarter under review stood at Rs 43.17 billion (Rs 4,317.15 crore) as against Rs 43.15 billion (Rs 4,315.31 crore) in the October- December period last financial year.

"The decorative paint business in India registered single-digit volume growth in the current quarter," Asian Paints Managing Director and CEO K B S Anand said adding that in the international markets, units in Bangladesh, Oman, Bahrain and Nepal witnessed good growth.

Total expenses during the quarter was Rs 34.75 billion (Rs 3,475.12 crore) compared to Rs 36.11 billion (Rs 3,610.56 crore) in the year ago period.

Its stock closed 1.40 per cent down at Rs 1,176.70 apiece on the BSE.