Asian Paints Q4 net up 7 % at Rs 101 cr

Paint manufacturer Asian Paints today announced its net profit for the fourth quarter ended March 31, 2009 rose by 7 per cent to Rs 101.14 crore, over the same period last year.      

The company had a net profit of Rs 94.52 crore for the same quarter ended March 2008, the paint manufacturer said in a filing to the Bombay Stock Exchange.      

Net sales of the company rose to Rs 1,424.92 crore for the quarter under review, from Rs 1,135.94 crore for the same quarter of the corresponding fiscal.      

"Demand conditions for the decorative business improved in the fourth quarter. Our objective will be to secure growth through a host of retailing and customer centric initiatives. Our international operations performed well on the back of good growth in Middle east and South Asia region," Asian Paints Managing Director & CEO PM Murthy said.      

For the year ended March 31, the company posted a net profit of Rs 397.84 crore, down 2.77 per cent from Rs 409.18 crore for the same period last year.      

Shares of Asian Paints closed at Rs 898.40, down 1.71 per cent on the BSE.