Asian Paints has moved higher by 8% to Rs 526, also its record high on BSE, after reporting a better than expected 37% year on year (yoy) jump in consolidated net profit after minority interest at Rs 327 crore for the second quarter ended September 2013 (Q2) on back of strong volume growth. The company had profit of Rs 239 crore in a year ago quarter.
The company’s income from operations grew 18% yoy at Rs 3,115 crore, while operating profit by 34% yoy at Rs 511 crore during the recently concluded quarter, Asian Paints said in a statement.
Analyst on an average had expected net profit of Rs 262 crore and net sales of Rs 2,960 crore from the paint maker.
Meanwhile, the board of directors of the company has recommended payment of interim dividend of Rs 1.10 per equity share of the face value of Rs 1 each for the financial year ending March 31, 2014.
The stock opened at Rs 489 and has seen a combined around 4.87 million shares changing hands on the counter till late noon deals on BSE and NSE.
The company’s income from operations grew 18% yoy at Rs 3,115 crore, while operating profit by 34% yoy at Rs 511 crore during the recently concluded quarter, Asian Paints said in a statement.
Analyst on an average had expected net profit of Rs 262 crore and net sales of Rs 2,960 crore from the paint maker.
Meanwhile, the board of directors of the company has recommended payment of interim dividend of Rs 1.10 per equity share of the face value of Rs 1 each for the financial year ending March 31, 2014.
The stock opened at Rs 489 and has seen a combined around 4.87 million shares changing hands on the counter till late noon deals on 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%