“ The Decorative paints business in India did well considering the challenging and uncertain macro environment. Raw material prices were marginally higher in the third quarter ” said K.B.S. Anand, Managing Director & CEO, Asian Paints Limited.
“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 % to `3,451.9 crores from `3,049.6 crores. Profit before depreciation interest and tax (PBDIT) for the group increased by 4.8 % to `567.4 crores from `541.3 crores. Net Profit after Minority Interest decreased by 1.8 % to `329.4 crores as compared to `335.2 crores in the previous corresponding period. Profit Before Tax (PBT) decreased by 0.6 % to `494.1 crores from `496.9 crores.
Asian Paints Consolidated Results, 9M - FY’14: For the Nine months ended 31 st December 2013, Asian Paints Group Income from operations has increased by 14.3 % 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 % to `1615.9 crores from `1415.2 crores. Net Profit after Minority Interest increased by 8.0 % to `931.4 crores as compared to `862.8 crores in the previous corresponding period. Profit Before Tax (PBT) increased by 9.6 % 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% to `2843.0 crores from `2533.7 crores. PBDIT for the quarter increased by 5.6 % to `512.4 crores from `485.3 crores. Net Profit decreased by 1.5% 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% to `7694.7 crores from `6730.5 crores. PBDIT for the period increased by 16.6 % to `1488.0 crores from `1 275.7 crores. Net Profit on a standalone basis increased by 11.3% to `902.0 crores as compared to `810.4 crores in the previous corresponding period.
About Asian Paints Limited
Asian Paints (asianpaints.com) is India’s largest paint company and ranked among the top ten Decorative coatings companies in the world with a consolidated turnover of `10,970 crores (`109.70 billion). Asian Paints along with its subsidiaries have operations in 17 countries across the world with 24 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints Egypt, Asian Paints, Apco Coatings and Taubmans.