Asian Paints recorded growth in 2017
Asian Paints announced financial results for the Third Quarter and Nine Months ended December 31.
“The Decorative paint business in India registered single digit volume growth in the current quarter. The Automotive coatings JV (PPG-AP) witnessed good growth in the Auto OEM, Auto Refinish and General Industrial business segment; whereas good growth in the powder coatings segment led to decent performance of the Industrial Coatings JV (AP – PPG).
In the international markets, units in Bangladesh, Oman, Bahrain and Nepal witnessed good growth. However, the international group performance was impacted by adverse exchange rate fluctuations in some key markets. Both the segments within the Home Improvement business – the Kitchen business under Sleek and the Bath business under Ess Ess, registered good growth rates in the quarter.” said K.B.S. Anand, Managing Director & CEO, Asian Paints Limited.
Highlights of Asian Paint's Q3 & 9M – FY’2018
- Consolidated Revenue from operations for the Quarter increases by 10.9%
- Consolidated Net Profit (from continuing operations) for the Quarter up by 19.6%
- 9M Consolidated Revenue from operations increases by 10.0%
- 9M Consolidated Net Profit (from continuing operations) up by 1.1%
- Standalone Revenue from operations for the Quarter increases by 11.3%
- Standalone Net Profit for the Quarter up by 24.2%
- 9M Standalone Revenue from operations increases by 10.6%
- 9M Standalone Net Profit up by 3 %
The full results are published on Asian Paints' website.
Image source: Pixabay
