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Asian Paints, on a standalone basis, has posted a 10 per cent rise in net profit at Rs 275 crore for the first quarter ended June 30, 2012 against Rs 250 crore logged in the same period last year.
Income from operations rose seven per cent to Rs 2,056 crore (Rs 1,927 crore).
Mr K.B.S. Anand, Managing Director & Chief Executive Officer, said: “We are witnessing downward trend in the cost of raw materials but depreciation of the rupee remains a concern area.
“Decorative paints business in India did well considering the challenging macro-environment. Auto and other industrial businesses saw some pressure due to subdued demand. Political events and macro-economic uncertainty in some countries continue to affect international performance.”
On Friday, the company scrip closed 2.75 per cent higher at Rs 3,723.90 on the BSE.
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