Asian Paints Q2 results: Net profit rises 31% to Rs 783 cr, sales up 18.8%

The initial capacity to be set up would be 265,000 tonnes per annum. In addition, clinker grinding would be set up in India as well

Asian Paints’ net profit increased 31.3 per cent year-on-year (YoY) to Rs 783 crore in the quarter ended September thanks to price increases and strong demand in the domestic decorative business.

The paint major’s net sales also rose 18.8 per cent to Rs 8,431 crore YoY.

“The domestic decorative business showed resilience to deliver double-digit volume growth and healthy value growth despite subdued demand conditions, impacted by the extended monsoon,” Amit Syngle, managing director and chief executive of Asian Paints, said in the company’s earnings release.

“The business focus on top line is evident from the double-digit compounded growth rates