 "Asian Paints hits record high on good Q4 results")
Asian Paints has moved higher to its record high of Rs 928, up 2% on the BSE, after the company reported 20% year on year (YoY) jump in its consolidated net profit at Rs 409 crore for the quarter ended March 31, 2016 (Q4FY16), on the back of healthy operational income.
Income from operations grew 12.3% at Rs 3,971 crore on YoY basis. Ebitda (earnings before interest, tax, depreciation, and amortisation) margin expanded 190 basis points to 17.7% in Q4FY16 from 15.8% in previous year quarter.
The company said the profitability improved mainly driven by lower material cost during the year.
Decorative paints business in India registered double digit volume growth in Q4. Good growth in the second half of the year, aided by very strong secondary demand in the festival season, it added.
At 09:52 am, the stock was up 1.8% at Rs 924 on the BSE. The trading volumes on the counter jumped almost five-fold with a combined 1.02 million shares changed hands on the BSE and NSE.
Income from operations grew 12.3% at Rs 3,971 crore on YoY basis. Ebitda (earnings before interest, tax, depreciation, and amortisation) margin expanded 190 basis points to 17.7% in Q4FY16 from 15.8% in previous year quarter.
The company said the profitability improved mainly driven by lower material cost during the year.
Decorative paints business in India registered double digit volume growth in Q4. Good growth in the second half of the year, aided by very strong secondary demand in the festival season, it added.
At 09:52 am, the stock was up 1.8% at Rs 924 on the BSE. The trading volumes on the counter jumped almost five-fold with a combined 1.02 million shares changed hands on the BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%