Asian Paints Q3 results: Net profit falls 18% to Rs 1,016 cr

However, consolidated revenue from operations rises 26% to Rs 8,527 cr

Paint major Asian Paints on Thursday reported 18% decline in consolidated net profit at Rs 1,016 crore for the quarter ending December 31, 2021. It was Rs 1,238 crore in the year-ago period.

Consolidated revenue from operations rose 26% to Rs 8,527 crore as compared to Rs 6,788 crore in Q3FY21.

In a stock exchange filing, the company said automotive coatings business was impacted in Q3FY22 due to challenges being faced by automotive sector.

Steep inflationary trend in raw material prices continued to impact gross margins across businesses in quarter, the company said.

Asian Paints' total expenses were at