MUMBAI, India - Asian Paints has announced its financial results for the quarter and six months ended Sept. 30, 2009.
For the quarter ended Sept. 30, 2009, on consolidation of accounts of the subsidiaries and joint venture of Asian Paints, net profit of the group has increased by 104.1 percent over the previous corresponding quarter. Sales and operating income has risen by 16.8 percent, and profit before depreciation interest and tax (PBDIT) for the group has increased by 81.6 percent. Profit before tax (PBT) has increased by 91.5 percent.
“Demand conditions for our decorative business have been good in most parts of the country. The international business was impacted by the global slowdown; however South Asia and Middle East regions performed well,” said PM Murty, MD and CEO, Asian Paints Limited.
For the six months ended 30 Sept. 2009, Asian Paints Group sales and operating income has increased by 17.1 percent. Profit before depreciation interest and tax (PBDIT) for the group has increased by 72.1 percent, and profit before tax (PBT) has increased by 79.3 percent. Net profit after minority interest has increased by 87 percent.