Asian Paints profit up 161% at Rs 574 crore, m-cap hits Rs 3 trillion

Firm becomes India's 12th most valuable company after June qtr results beat expectations

The country’s largest paint manufacturer Asian Paints on Tuesday reported a 161 per cent rise in its consolidated profit at Rs 574.30 crore for the first quarter, leading to a 6 per cent rise in its shares on the BSE. Its market value crossed the Rs 3-trillion mark for the first time on Tuesday, making it India’s 12th most valued company.  The stock gained 6.04 per cent to close at Rs 3,159.20 on the BSE. 

During the day, it zoomed 6.66 per cent to Rs 3,178 — its 52-week high. On the NSE, shares of the company jumped 5.46 per cent