 "Asian Paints")
Asian Paints Limited, on May 9, reported a 1.82 per cent year-on-year rise in consolidated net profit at Rs 1,256.72 crore for the quarter that ended on March 31 in financial year 2023-24 (Q4FY24). The company had reported a net profit of Rs 1,234.14 crore during the same period last year (Q4FY23).
Sequentially, the net profit went down 13.19 per cent from Rs 1,447.72 crore in the last quarter.
Sequentially, the net profit went down 13.19 per cent from Rs 1,447.72 crore in the last quarter.
The company's revenue from operations decreased by 0.64 per cent to Rs 8,730.76 crore in Q4, compared to Rs 8,787.34 crore reported in the year before. On a quarter-on-quarter basis, the revenue for operations stood at Rs 9,103.09 crore.
The company reported a total income of Rs 8,917.87 crore for Q4FY24. This was an increase of 0.28 per cent from Rs 8,892.82 crore reported during the year-ago period. On a quarter-on-quarter basis, the total income was down 3.50 per cent. It was Rs 9,241.67 crore in Q3FY24.
For the entire financial year, the company reported a rise in net profit by 32.96 per cent at Rs 5,460.23 crore, compared to Rs 4,106.45 crore reported at the end of FY23.
The company's revenue from operations for FY24 rose by 2.91 per cent at Rs 35,494.73 crore, compared to Rs 34,488.59 crore in the previous financial year.
The company's total income increased by 3.74 per cent at Rs 36,182.69 crore in FY24, compared to Rs 34,875.07 crore reported in FY23.
Amit Syngle, managing director and CEO of Asian Paints Limited, said, "“We crossed the Rs 35,000 crore consolidated revenue milestone in FY2024. Our decorative and industrial coatings combined, delivered a volume growth of 10 per cent and value growth of 3.9 per cent for the year with our industrial segment registering double-digit value growth. We are the largest integrated Home Décor player. And during the year, we made good progress on launching new collections and expanding our store footprint as well as integrating our home décor offerings within our beautiful homes network..."
Asian Paints Ltd announced an interim dividend of Rs 28.15 per share.
At 2:18 pm, the stock price of Asian Paints Limited was trading at Rs 2,745.15.
