NEW DELHI: Asian Paints on Tuesday reported a 52% jump in consolidated net profit to Rs 1,574.84 crore in the June quarter, led by a double-digit volume and value growth in the decorative business as well as softening of material prices.
It had posted a net profit of Rs 1,036.03 crore during the April-June period of 2022-23. The consolidated sales rose 6.7% to Rs 9,153.79 crore in the first quarter of this fiscal. In the year-ago period, the same stood at Rs 8,578.88 crore, it said in a regulatory filing.
Total expenses were almost flat at Rs 7,305.09 crore in the latest June quarter compared to Rs 7,287.84 crore in the corresponding period a year ago. Total income during the quarter was at Rs 9,379.38 crore, an increase of 7.73%.
During the June quarter, Asian Paints reported a “double-digit volume and healthy value growth in decorative business” and its industrial business saw a “double-digit revenue growth trajectory,” the filing said.