Asian Paints, on a standalone basis, has posted a marginal decline in net profit at Rs 307 crore for the December quarter compared with Rs 312 crore logged in the previous corresponding period.
Total income rose 12 per cent to Rs 2,843 crore (Rs 2,534 crore). On a consolidated basis, total income was Rs 3,452 crore (Rs 3,050 crore). Net profit was Rs 329 crore (Rs 335 crore).
The company said the Q3 FY14 results were not comparable to the corresponding quarter of the previous year as it acquired Sleek International in August 2013.
Asian Paints said its wholly-owned subsidiary Asian Paints Industrial Coatings had closed down its powder coating plant at Baddi (HP) on November 25, 2013.
It added that its plant at Sarigam in Gujarat was sufficient to cater to its future requirements. K.B.S. Anand, Managing Director and Chief Executive Officer, said: “The decorative paints business in India did well considering the challenging macro environment. Raw material prices were marginally higher in the third quarter. International business registered good growth.”
On Monday, the company scrip closed 0.34 per cent lower at Rs 490.10 on the BSE.