Asian Paints reports
increased Net Sales
Asian Paints reported consolidated sales rose 11.2% to $273 million for the six months ended Sept. 30. Profit before depreciation, interest and tax for the group increased by nine percent to $39 million. Net sales for the quarter ended Sept. 30 increased to $152 million, an 11% increase.
“The performance of the group has been good, as all business units registered good growth,” said Ashwin Dani, vice chairman and managing director Asian Paints (India) Ltd. “The decorative coatings business in India, which is the largest contributor to the group’s revenue, has performed well. For this business, the emphasis has been to drive top line growth and increase market share by aggression on pricing, new offering in the economy segment and enhanced focus on top-of-the-line products.”
Dani also reported that the industrial coatings business performed well, registering 20% growth. In addition he said, international operations registered 20% growth for the first half of the year, with the Middle East region, the largest contributor to international revenues, growing by 34%.