Muted volume growth hampers Asian Paints' December-quarter figures

Demand conditions continue to be a cause of concern

Asian Paints has reported muted December quarter numbers, led by a single-digit volume growth of its domestic decorative paints segment, which accounts for over 80 per cent of its consolidated revenues.

While standalone revenue growth came in at 11.9 per cent over the year-ago quarter, consolidated revenue growth was at 10.9 per cent.

Analysts had estimated consolidated revenue growth to be around 20 per cent on the back of 15 per cent volume growth in the domestic decorative business. The company’s management has indicated that while there has been some recovery after demonetisation and the implementation of the goods and services tax