Tuesday, 24 January 2017

Asian Paints net profit up, hit by demonetisation

Paints major Asian Paints on Monday posted a marginal 1.5 per cent rise in consolidated net profit to Rs 489.31 crore in the quarter ended December 31, as compared to Rs 482.02 crore in the previous corresponding period. On consolidation of accounts of the subsidiaries and associates of the company, income from operations in the quarter under review rose 2.6 per cent to Rs 4,353.99 crore from Rs 4,245.16 crore in the year-ago period. "The decorative business segment in India registered low single digit growth in the quarter with demand impacted to a certain extent on the back of demonetisation," said Managing Director and CEO K.B.S. Anand.

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