Asian Paints has tanked 6% to Rs 4,590 after reporting a 3% year-on-year (yoy) drop in consolidated net profit at Rs 251 crore for the quarter ended March 31, 2013 (Q4), due to higher other expenditure. The company had profit of Rs 259 crore in the year ago quarter.
Total income from operations however, grew 7.5% yoy to Rs 2,733 crore on y-o-y basis.
“Industrial paints segment impacted due to economic slowdown, while automotive coating growth was affected due to subdued demand in the auto sector,” Asian Paints said in a statement.
Analyst on an average expected net sales of Rs 2,897 crore and profit of Rs 302 crore from the India’s largest paint maker.
The board has recommended payment of final dividend of Rs 36.50 per equity share of the face value of Rs 10 each for the financial year ended March 31, 2013.
Meanwhile, the board has approved the sub-division of each equity shares of the company of the face value of Rs 10 each to Re 1 each.
The stock opened at Rs 4,870 and hit high of Rs 4,925 in morning deals on NSE. A combined around 270,259 shares have changed hands on the counter so far on NSE and BSE.
Total income from operations however, grew 7.5% yoy to Rs 2,733 crore on y-o-y basis.
“Industrial paints segment impacted due to economic slowdown, while automotive coating growth was affected due to subdued demand in the auto sector,” Asian Paints said in a statement.
Analyst on an average expected net sales of Rs 2,897 crore and profit of Rs 302 crore from the India’s largest paint maker.
The board has recommended payment of final dividend of Rs 36.50 per equity share of the face value of Rs 10 each for the financial year ended March 31, 2013.
Meanwhile, the board has approved the sub-division of each equity shares of the company of the face value of Rs 10 each to Re 1 each.
The stock opened at Rs 4,870 and hit high of Rs 4,925 in morning deals on NSE. A combined around 270,259 shares have changed hands on the counter so far on NSE and BSE.
