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Asian Paints profit before tax down nearly 6% to Rs 700 crore in Q4

Net profit of the Mumbai-based company fell 2.1 per cent year-on-year to Rs 461.9 crore in Q4, below Street estimates of Rs 512 crore as polled by Bloomberg.

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Asian Paints | Oil Asian Paints | Q4 earnings

BS Reporter 

Asian Paints: Volumes driven by strong distribution; low-end products
The company’s revenue fell 7.1 per cent to Rs 4,636 crore.

The country’s largest paint maker, Asian Paints, saw its profit before tax (PBT) fall nearly 6 per cent in the March quarter as the nationwide lockdown impacted its sales.

PBT stood at Rs 699.22 crore in Q4, against Rs 741.35 crore a year ago. Net profit of the Mumbai-based company fell 2.1 per cent year-on-year to Rs 461.9 crore in Q4, below Street estimates of Rs 512 crore as polled by Bloomberg.

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The company’s revenue fell 7.1 per cent to Rs 4,636 crore. The company’s operating margin, however, widened to 18.5 per cent, compared with 17.8 per cent a year ago. Operating profit fell 3 per cent to Rs 860 crore.

First Published: Wed, June 24 2020. 01:21 IST
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