MUMBAI, India – On a consolidated basis, paint and coating manufacturer Asian Paints, Mumbai, reported income from operations grew by 19 percent to Rs 3052.9 crores for the three months ended Dec 31, 2012. That compares to income of Rs 2567.0 crores for the same period in the previous year. The company reported positive growth in the decorative paints business, while the company’s industrial business was impacted by slowdowns in business projects and OEM demand. The company’s international business registered strong growth in the Middle East and Asia.
For the standalone company, quarterly income from operations grew by 20 percent to Rs 2536.97 crores as compared to Rs 2114.18 crores in the previous year. Profit before depreciation, interest and taxes increased 22.9 percent to Rs. 451.23 crores from Rs 367.12 crores. Net profit was up by 24.6 percent to Rs. 312.03 crores from Rs. 250.48 crores last year.