 "Asian Paints: Volumes driven by strong distribution; low-end products")
Asian Paints has moved higher to its record high of Rs 928, up 2% on the BSE, after the company reported 20% year on year (YoY) jump in its consolidated net profit at Rs 409 crore for the quarter ended March 31, 2016 (Q4FY16), on the back of healthy operational income.
Income from operations grew 12.3% at Rs 3,971 crore on YoY basis. Ebitda (earnings before interest, tax, depreciation, and amortisation) margin expanded 190 basis points to 17.7% in Q4FY16 from 15.8% in previous year quarter.
The company said the profitability improved mainly driven by lower material cost during the year.
Decorative paints business in India registered double digit volume growth in Q4. Good growth in the second half of the year, aided by very strong secondary demand in the festival season, it added.
At 09:52 am, the stock was up 1.8% at Rs 924 on the BSE. The trading volumes on the counter jumped almost five-fold with a combined 1.02 million shares changed hands on the BSE and NSE.
Income from operations grew 12.3% at Rs 3,971 crore on YoY basis. Ebitda (earnings before interest, tax, depreciation, and amortisation) margin expanded 190 basis points to 17.7% in Q4FY16 from 15.8% in previous year quarter.
The company said the profitability improved mainly driven by lower material cost during the year.
Decorative paints business in India registered double digit volume growth in Q4. Good growth in the second half of the year, aided by very strong secondary demand in the festival season, it added.
At 09:52 am, the stock was up 1.8% at Rs 924 on the BSE. The trading volumes on the counter jumped almost five-fold with a combined 1.02 million shares changed hands on the BSE and NSE.
