Asian Paints gains 6% from day's low as Q1 profit beats Street estimates

Against analysts' expectations of Rs 571 crore, its consolidated net profit jumped 18 per cent to Rs 655 crore from a profit of Rs 557 crore in the year ago quarter.

Shares of Asian Paints climbed 3 per cent to Rs 1,475 per share, gaining 6 per cent from intra-day low level on the BSE on Wednesday after the company reported a better-than-expected April-June quarter result in financial year 2019-20 (Q1FY20). 

The company's net profit jumped 18 per cent to Rs 655 against analysts' expectations of Rs 571 crore. Asian Paints had hit a low of Rs 1,396 in early morning deal on the BSE. However, post the results, Asian Paints became the largest gainer at the S&P BSE Sensex index which was, otherwise, trading in the red during the final hour