Asian Paints Reports 24% Net Profit
MUMBAI - Asian Paints Limited announced its financial results for the quarter and year ended March 31, 2012. The company reported good demand for its decorative products despite challenges from the depreciation of the rupee and continued raw material price increases. The company experienced decent growth in its Auto business, but saw other Industrial business affected by subdued demand. The company reported that the South Asia and Oman regions performed well, although political events and macro-economic uncertainty in some countries continue to impact international performance. The steep price increases in raw materials impacted profitability of the company’s industrial and international businesses.
For the quarter ended March 31, 2012, on consolidation of accounts of the subsidiaries and joint venture of Asian Paints, sales and operating income increased by 29.3 percent to Rs. 2546.0 crores from Rs. 1969.7 crores. Net profit of the group increased by 39.5 percent to Rs. 259.5 crores from Rs. 186.0 crores.
For the year ended March 31, 2012, on consolidation of accounts of the subsidiaries and joint venture of Asian Paints, sales and operating income increased by 24.7 percent to Rs. 9632.2 crores from Rs. 7722.3 crores. Net profit of the group increased by 17.3 percent to Rs. 988.7 crores from Rs. 843.2 crores.
On a standalone basis, Asian Paints’ full-year 2012 sales and operating income increased by 25.7 percent to Rs. 7964.2 crores from Rs. 6336.1 crores. Net Profit on a standalone basis increased by 23.6 percent to Rs. 958.4 crores from Rs. 775.2 crores the previous year.
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