Asian Paints Q1 net profit falls 67.3% to Rs 219.6 cr, revenue down 42.7%

Revenue from Home Improvement was at Rs 52.09 crore compared to Rs 107.84 crore last year

Asian Paints on Friday reported 67.32 per cent decline in consolidated net profit to Rs 219.61 crore for the first quarter ended June 30, due to complete washout of business in April.

The company had posted a net profit of Rs 672.09 crore during April-June quarter of the previous fiscal,Asian Paints said in a regulatory filing.

Its revenue from operations was down 42.74 per cent at Rs 2,922.66 crore during the quarter under review as against Rs 5,104.72 crore in the same period previous fiscal.

"After a complete washout in April 2020 due to extended Lockdown, the Decorative business segment