Asian Paints posts 35% rise in net profit in Oct-Dec quarter

Mumbai, Jan 17 (IANS) Asian Paints, the country’s largest paintmaker, on Wednesday reported a 35 per cent jump in consolidated net profit to Rs 1,447.72 crore for the October-December quarter of the current financial year on the back of strong sales in the festive season.

The company had recorded a Rs 1,072.67 crore net profit in the same quarter last year.

A 12 per cent volume growth in the decorative segment helped the company’s turnover rise more than 5 per cent to Rs 9,075 crore.

"Growth was supported by the extended festive season, though we saw some moderation in demand in the latter part of the quarter," CEO and Managing Director Amit Syngle said in a statement.

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