Ashwin Dani, vice-chairman and managing director, Asian Paints, said "It has been an impressive performance by all three business units that has powered sales and profit growth for the company in the financial year. The decorative business, the largest in our portfolio, did extremely well. The strong performance in industrial coatings business has been due to a good show by the auto-refinishes, protective coatings and powder coatings business. The international business unit registered impressive profit growth and the challenge would be to sustain going ahead."
For the year ended March 31, 2008 its net profit jumped 37.9 per cent to Rs 375.2 crore over Rs 272.1 crore last year. Its total income for the year rose by 21.6 per cent to Rs 3478.7 crore from Rs 2,861.7 crore.
In March 2007, Asian PPG Industries, a joint venture of the company, had acquired '2K Business' from ICI Paints. On consolidation of accounts of the subsidiaries and joint venture , the consolidated net profit of the group grew 45.6 per cent to Rs 409.2 crore and operating income rose by 20 per cent to Rs 4404.3 crore from Rs 3670 crore in the previous year.
