Asian Paints net at Rs 455 cr

Asian Paints on Tuesday reported a consolidated net profit of Rs 455.2 crore on higher net sales of Rs 3,578 crore for the first quarter ended June. In the same period of the previous financial year, it posted a net profit of Rs 338.7 crore and net sales of Rs 3,325.4 crore.

The company said the result of the reported quarter is not comparable with the corresponding quarter of the previous year as it acquired 51 per cent stake in Kadisco Paint and Adhesive Industry Share Company (Ethiopia) in February 2015. Overall expenses stood at Rs 3,009.2 crore.