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Asian Paints Releases Third Quarter Results

January 20, 2014

Asian Piants Ltd. has released their financial results for the quarter and nine months ended December 31, 2013.

"The decorative paints business in India did well considering the challenging and uncertain macro environment," said K.B.S. Anand, managing director and CEO, Asian Paints.

"Industrial paints segment continued to be impacted by sluggish manufacturing environment in the economy, with no major capex activity. Automotive coatings growth was affected due to the subdued demand in the automotive sector. International business good growth. Middle East and Asia have done well even though some countries continued to be affected by political events and macro economic uncertainty," he added.

“Industrial paints segment continued to be impacted by sluggish manufacturing environment in the economy, with no major capex activity. Automotive coatings growth was affected due to the subdued demand in the automotive sector. International Business registered good growth. Middle East and Asia have done well even though some countries continued to be affected by political events and macro economic uncertainty” he added.

Asian Paints Consolidated Results, Q3-FY’14:
For the quarter ended December 31, 2013, on consolidation of accounts of the subsidiaries and joint venture of Asian Paints – Income from operations has risen by 13.2 percent to  3,451.9 crores from 3,049.6 crores. Profit before depreciation interest and tax (PBDIT) for the group increased by 4.8 percent to  567.4 crores from 541.3 crores. Net Profit after Minority Interest decreased by 1.8 percent to 329.4 crores as compared to 335.2 crores in the previous corresponding period. Profit Before Tax (PBT) decreased by 0.6 percent to  494.1 crores from 496.9 crores.

Asian Paints Consolidated Results, 9M-FY’14:
For the Nine months ended December 31, 2013, Asian Paints Group Income from operations has increased by 14.3 percent to 9,407.7 crores from 8,228.6 crores. Profit before depreciation interest and tax (PBDIT) for the group has increased by 14.2 percent to  1615.9 crores from 1415.2 crores. Net Profit after Minority Interest increased by 8.0 percent to 931.4 crores as compared to 862.8 crores in the previous corresponding period. Profit Before Tax (PBT) increased by 9.6 percent to 1,401.9 crores from 1,278.6 crores.

Asian Paints Standalone Results, Q3-FY’14:
For the quarter ended December 31, 2013, Income from operations increased by 12.2 percent to  2843.0 crores from  2533.7 crores. PBDIT for the quarter increased by 5.6 percent to  512.4 crores from 485.3 crores. Net Profit decreased by 1.5 percent to  307.5 crores as compared to 312.0 crores in the previous corresponding period.

Asian Paints Standalone Results, 9M-FY’14:
For the Nine month period ended December 31, 2013, Income from operations increased by 14.3 percent to  7694.7 crores from  6730.5 crores. PBDIT for the period increased by 16.6 percent  to  1488.0 crores from 1275.7 crores. Net Profit on a standalone basis increased by 11.3 percent to ` 902.0 crores as compared to  810.4 crores in the previous corresponding period.
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