Asian Paints Q1 consolidated net up 36%

Asian Paints has posted 36% increase in consolidated net profit at Rs 81.93 crore for the quarter ended June 30, 2007 when compared with Rs 60.30 crore for Q1FY07.

According to an offcial release issued by the company to the BSE today, total income has increased to Rs 969.44 crore for from Rs 783.53 crore for the quarter ended June 30, 2006.

On a stand-alone basis, the company has posted a net profit of Rs 74.23 crore for the quarter ended June 30, 2007 when compared with Rs 58.02 crore for the quarter ended June 30, 2006. Total income has increased to Rs 748.97 crore from Rs 609.78 crore for the quarter ended June 30, 2006, the release said.

"Demand conditions for decorative paints continued to be good in most parts of the country. The company recorded good growth in all segments and across all regions of the country for decorative coatings. The industrial coatings business also performed very well as did our international business especially in the Middle East and South East Asia," Ashwin Dani, VC & MD, said in an official release.