Asian Paints beats estimates, Q2 net up 21% to Rs 576 cr

Analysts on average had expected a profit of Rs 517 cr

India's Asian Paints Ltd posted a 21 percent rise in second-quarter profit on Tuesday, beating estimates.

Profit rose to 5.76 billion rupees ($88.58 million) in the three months ended Sept. 30, from 4.76 billion rupees a year earlier, the Mumbai-headquartered company said.

Analysts on average had expected a profit of 5.17 billion rupees, Thomson Reuters data showed.

Revenue from operations rose 2.3 percent to 42.74 billion rupees.

Shares of the company were up 4.6 percent as of 0932 GMT.