Asian Paints Q3 profit surges 62% to Rs 1,238 crore, revenue grows 25%

Asian Paints reported a 62 per cent year-on-year growth in consolidated profit to Rs 1,238.3 crore for the quarter ended December 2020 (Q3), aided by strong volume growth and operating performance. Profit in the year-ago period was Rs 764.4 crore.
 

Consolidated revenue from operations increased 25.2 per cent to Rs 6,788.5 crore in Q3, compared with Rs 5,420.3 crore last year.
 

"Demand conditions continued to exhibit strong recovery. The domestic decorative business delivered more than 30 per cent volume growth led by a strong performance in premium and luxury portfolios," Amit Syngle, managing director and chief executive officer, Asian Paints.
 

Syngle said the international business recorded double-digit volume growth, led by good growth in Asia and Middle East.
 

"Profitability across businesses has been well supported by a good sales mix and some good work in cost optimisation and sourcing measures pursued strongly through innovation programmes," he said.
 

Asian Paints' earnings before interest, tax, depreciation and amortisation (EBITDA) surged 50.3 per cent year-on-year to Rs 1,787.9 crore and margins expanded by 430 basis points from a year ago to 26.3 per cent in Q3.
 

The stock closed trade on Thursday at Rs 2,714.65 per share, up 0.62 per cent over the previous day's close.
 

The company along with its subsidiaries have operations in 15 countries across the world.