Asian Paints Announces 3:5 Bonus

Asian Paints has recorded a 26.6 per cent jump in net profit to Rs 97.34 crore during fiscal 1999-00 from Rs 76.88 crore in the previous year. Its PBDIT has increased 37.7 per cent to Rs 191.22 crore, while its net profit margin is at 9.1 per cent compared with 8.6 per cent in the previous year. The company's board also cleared a bonus issue of 3:5. Net sales during the period rose to Rs 1,079.75 crore compared with Rs 909.64 crore in the previous fiscal, up 19.2 per cent. The company's interest payout was 9.1 per cent lower at Rs 20.29 crore. The company said that it was targeting a turnover of Rs 2,100 crore by the year 2003.