Asian Paints net up 22% at Rs 61 cr

BS 200 SCORECARD

Asian Paints posted 21.65 per cent rise in net profit at Rs 60.95 crore for the third quarter ended December 31, 2005, as compared with Rs 50.10 crore for the corresponding quarter last year.

Total income increased to Rs 648.91 crore during the quarter from Rs 588.52 crore in the year-ago period, up 10.26 per cent, the company informed the BSE.

The group reported a consolidated profit of Rs 62.63 crore for the quarter up from Rs 56.02 crore recorded in the year-ago period. Consolidated total income stood at Rs 826.16 crore from Rs 748.37 crore in Q3 FY05.

The figures of the previous period include financials of subsidiaries Berger Paints (Malta) and Asian Paint (Mauritius), divested in May 2004 and March 2005 respectively and the figures of the current period do not include them. Hence, the consolidated results for the current period are not comparable with the previous period.

"In the nine months to date, we have had steady growth in all segments of decorative coatings and across all regions of the country. This is in spite of the Diwali season being impacted by prolonged and heavy rains. However, underlying demand is good and we look forward with confidence," Vice-chairman and MD, Ashwin Dani, said.