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In a lacklustre market, Asian Paints puts up a bright show in Q1FY20

Volumes grew by an estimated 17 per cent, operating profit margin was at a 12-quarter high

Higher costs take colour off Asian Paints
Asian Paints

At a time when markets have been volatile with a downward bias, Asian Paints’ June 2019 quarter (Q1) results were good news for investors with the company outperforming the Street’s expectations on all key parameters. While consolidated topline of India’s largest paints maker grew by 16.6 per cent year-on-year to Rs 5,130.6 crore, its net profit (after minority interest) rose by 17.7 per cent year-on-year to Rs 655.4 crore. According to Bloomberg consensus, analysts had pegged revenue and net profit way lower at Rs 4,886 crore and Rs 550 crore, respectively. A ...