Asian Paints Releases Third Quarter Financial Year 2023 Results
Courtesy of Asian Paints Ltd.
Asian Paints Ltd. announced its financial results for the third quarter of the financial year 2023. Asian Paints’ consolidated sales for third quarter financial year 2023 increased by 1.7% to ₹ 8,607.50 crores from ₹8,462.15 crores. Profit before depreciation, interest, tax and other income (PBDIT) for the group (before share of profit in associates) increased by 4.5% to ₹1,611.43 crores from ₹1,542.31 crores. Profit before exceptional items and tax increased by 6.1% to ₹1,478.20 crores from ₹1,393.72 crores. Net profit after minority interest increased by 5.6% to ₹1,072.67 crores from ₹ 1,015.69 crores.
“The industrial business did well led by strong growth in the Auto OE and General Industrial segments. The International Business was a mixed bag with good growth in the Middle East and Africa while the South Asia market, especially Sri Lanka and Bangladesh, got severely impacted by the adverse forex & macro-economic conditions,” said Amit Syngle, managing director and CEO of Asian Paints Ltd.
Asian Paints’ standalone sales results for third quarter financial year 2023 reported an increase of 0.9% to ₹7,492.22 crores from ₹7,424.08 crores. PBDIT for the quarter increased by 1.8% to ₹1,494.76 crores from ₹1,468.18 crores. Profit before tax increased by 5.5% to ₹1,442.98 crores from ₹1,367.42 crores. Net profit increased by 6.4% to ₹1,085.88 crores from ₹1,020.26 crores.
As for international business, sales increased by 2.1% in the third quarter of the financial year 2023 to ₹778.82 crores from ₹762.43 crores. In constant currency terms, sales increased by 13.4%. PBT was ₹36.96 crores as against ₹11.29 crores in the corresponding period of the previous year.
For more information, visit: https://www.asianpaints.com/.
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