Asian Paints today said its third-quarter consolidated net profit rose 11 per cent to Rs 220.3 crore from Rs 198.6 crore a year earlier. Net sales rose 30 per cent to Rs 2,099.6 crore from Rs 1,620 crore.
Stand-alone net profit for the three months through December rose 16 per cent to Rs 206.6 crore from Rs 178.7 crore in the year-ago quarter. Net sales jumped by 37.29 per cent to Rs 1,754.2 crore from Rs 1,277.7 crore. The company attributed the rise in net sales to festive demand during Dussehra, Diwali and Christmas, analysts said.
With a share close to 50 per cent, Asian Paints is the leader in the decorative paints market. In industrial paints, it lags behind Kansai Nerolac and Berger Paints, with a share of 13 per cent.
