Asian Paints has announced its net profit increased 44 per cent to ₹1,258 crore against ₹874 crore logged in the same period last year, on back of fall in raw material cost.

Revenue from operations was up at ₹8,787 crore (₹7,973 crore). The company has announced a dividend of ₹21.25 per share.

Amit Syngle, Managing Director & CEO, Asian Paints, said sales volume was up 14 per cent volume and it was up 20 per cent in value terms on standalone business. The industrial coatings business has delivered a double digit growth in volume and value terms, delivering one of the highest profits in the last two decades, he said.

Home decor biz

Overall, at a consolidated level the company has crossed ₹34,000 crore revenue in last fiscal and along with decor and services diversification, it is now the largest integrated player in Home Decor business.

In home decor, the new categories of fabrics, decorative lighting, UPVC doors and windows did well, while kitchen and bath were sluggish. The global business was good in West Asia and Africa though slower in Asia. However overall, the international business delivered good profit, he said.

Going forward, the performance will be driven by consistent focus on customer centricity, innovation, sustained investment in business-to-business coupled with powerhouse brand, robust supply chain and distribution network, said the company.

For the year-ended March, the company’s net profit was up 36 per cent at ₹4,195 crore (₹3,085 crore) on a revenue of ₹34,489 crore (₹29,101 crore).

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