Leading paint maker announced its April-June quarter results for the financial year 2021-22, reporting a net profit of Rs 574.3 crore on a consolidated basis, compared to Rs 2019.6 crore in the corresponding period of the previous fiscal, registering a growth of 161.5 per cent year-on-year. On Tuesday, July 20, share price of Asian Paints gained more than six per cent with the announcement of the quarterly results. Asian Paints opened on the BSE at Rs 2,992, swinging to an intra day high of Rs 3,178 and an intra day low of Rs 2,981.70, throughout the trading session today.
The company’s revenue from operations in the first quarter of the current fiscal jumped almost 91 per cent to Rs 5,585.4 crore, compared to Rs 2,922.7 crore in the year-ago period. The total income during the quarter stood at Rs 5674.97 crore, compared to Rs 2,969.75 crore in the year-ago period.
In the preceding January-March quarter of the financial year 2020-21, Asian Paints reported a net profit of Rs 870 crore, up 84 per cent year-on-year.
“The domestic Decorative business more than doubled its volume and delivered stellar revenues over the lower base of last year which had suffered from the first nationwide lockdown. The business registered strong compounded average growths in value and volume in comparison with Q1 FY 20 which was a normal quarter, indicative of a strong consistent trajectory,” said Amit Syngle, Managing Director & CEO of Asian Paints Limited.
On the NSE, Asian Paints opened at Rs 2,996, registering an intra day high of Rs 3,179.50 and an intra day low of Rs 2,979.55, during the trading session. Its shares settled 5.47 per cent higher at Rs 3,145.05 on the NSE.
Shares of Asian Paints settled 6.04 per cent higher at Rs 3,159.20 on the BSE.