Paint major Asian Paints on Thursday said its net profit, after minority interest, increased by 4.6 per cent to Rs 480.99 crore in the quarter ended March 31, 2018 as compared to Rs 459.99 crore in the previous corresponding period.
Revenue from operations, during the quarter under review, rose by 14.1 per cent to Rs 4,492.30 crores from Rs 3,936.72 crore in the corresponding period in the previous year.
"The decorative paint business in India registered double digit volume growth in the current quarter with improved demand conditions. Material prices continued to witness an upward trend thereby exerting pressure on margins which was mitigated to an extent by the price increases taken," said Managing Director and CEO K.B.S. Anand.
In international operations, its units in Nepal, Bangladesh and Oman witnessed good topline growth. Overall performance of the International portfolio was impacted by unfavourable demand conditions, issues around availability of forex in certain key units alongwith rising input price pressures across markets, he said.
The Board of Directors recommended the payment of final dividend of Rs 6.05 per equity share.
--IANS
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