Mumbai Jan 22 (IANS) Asian Paints on Monday said its consolidated net profit after non-controlling interest (from continuing operations) rose by 21.6 per cent to Rs 554.64 crore during the third quarter (Q3) ended December 31 2017 from Rs 456.18 crore reported during a year-ago period.
The company s consolidated revenue from operations edged higher by 10.9 per cent to Rs 4 267.49 crore during the quarter under review from Rs 3 846.53 crore reported during the corresponding period of last fiscal.
"The decorative paint business in India registered single-digit volume growth in the current quarter " K.B.S. Anand Managing Director and CEO of Asian Paints said in a statement.
"The automotive coatings JV (PPG-AP) witnessed good growth in the auto OEM auto refurnish and general industrial business segment; whereas good growth in the powder coatings segment led to decent performance of the Industrial Coatings JV " he added.
According to Anand units in Bangladesh Oman Bahrain and Nepal witnessed good growth.
"However the international group performance was impacted by adverse exchange fluctuations in some key markets " he added.
On a standalone basis the paint company s Q3 net profit surged by 24.2 per cent to Rs 528.97 crore compared with Rs 425.83 crore reported during Q3 2016-17.
Revenue from operations for the reviewed quarter stood at Rs 3 587.43 crore -- up 11.3 per cent -- from Rs 3 222.32 crore during the like period of last fiscal.
On Monday the company shares closed 1.40 per cent lower at Rs 1 176.70 on the BSE.
--IANS
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