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.
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.