NEW DELHI: Asian PaintsNSE 4.12 % on Wednesday said its consolidated net profit after minority interest jumped 17.7 per cent year-on-year (YoY) to Rs 655 crore for the quarter ended June 30, 2019 compared with Rs 556.85 crore in the same quarter last year.
The number beat ET Now's poll estimate of Rs 547 crore profit
Revenue from operations jumped 16.6 per cent YoY to Rs 5,130.63 crores from Rs 4,398.59 crore. Profit before depreciation, interest, tax and other income (PBDIT) climbed 24.4 per cent to Rs 1,156.25 crore from Rs 929.70 crore a year ago, the company said in a BSE filing.
The decorative business segment in India registered a high double-digit volume growth and delivered strong performance across regions. The Automotive coatings JV (PPG-AP) business was effected by the severe slowdown being witnessed in the automobile industry. Even the Industrial Coatings JV (AP-PPG) business was impacted by demand slowdown. Benign raw material prices, however, supported the margins for the entire coatings business,” said Managing Director & CEO KBS Anand.
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The number beat ET Now's poll estimate of Rs 547 crore profit
Revenue from operations jumped 16.6 per cent YoY to Rs 5,130.63 crores from Rs 4,398.59 crore. Profit before depreciation, interest, tax and other income (PBDIT) climbed 24.4 per cent to Rs 1,156.25 crore from Rs 929.70 crore a year ago, the company said in a BSE filing.
The decorative business segment in India registered a high double-digit volume growth and delivered strong performance across regions. The Automotive coatings JV (PPG-AP) business was effected by the severe slowdown being witnessed in the automobile industry. Even the Industrial Coatings JV (AP-PPG) business was impacted by demand slowdown. Benign raw material prices, however, supported the margins for the entire coatings business,” said Managing Director & CEO KBS Anand.
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