ANI
21 Jan 2021, 18:26 GMT+10
Mumbai (Maharashtra) [India], Jan 21 (ANI): Asian Paints on Thursday reported 62 per cent year-on-year jump in its net profit to Rs 1,238 crore for the October to December quarter.
The country's largest paint maker had reported a net profit of Rs 764 crore for the corresponding quarter last fiscal year (Q3 FY20).
Profit before tax rose by over 60 per cent to Rs 1,697 crore from Rs 1,057 crore in the year-ago period.
Managing Director and CEO Amit Syngle said the domestic decorative business delivered 30 per cent volume growth, led by a strong performance in premium and luxury portfolios.
Demand conditions continued to exhibit strong recovery across business segments spread over most regions.
"The home decor foray of Asian Paints got a big fillip from a strong performance of the home improvement business. The industrial coatings business delivered a robust performance, particularly in protective coatings and auto businesses which rebounded in a big way, benefited by resurgence in the industrial activity," he said.
Syngle said the company's international business clocked double-digit volume growth, strongly led by good growth in Asia and the Middle East.
"Profitability across businesses has been well supported by a good sales mix and some excellent work in cost optimisation and sourcing measures pursued strongly through innovation programmes," he said. (ANI)Get a daily dose of Vietnam Tribune news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Vietnam Tribune.
More InformationNew Delhi [India] March 11 (ANI): Injuries have sidelined wicketkeeper-batter Isabella Gaze, seamer Hayley Jensen, and batter Bella...
New Delhi [India], March 11 (ANI): Venue- Ahmedabad's Narendra Modi Stadium. Date- November 19, 2023. India had surrendered the 2023...
Balochistan [Pakistan], March 11 (ANI): Paank, the human rights department of Baloch National Movement has strongly condemned the ongoing...
New Delhi [India], March 11 (ANI): Five Bangladeshi nationals were arrested by the Delhi police from different areas of the city for...
Manila [Philippine], March 11 (ANI): Former Philippine President Rodrigo Duterte was arrested on Tuesday in Manila on an International...
Mumbai (Maharashtra) [India], March 11 (ANI): Indian stock markets declined sharply during the opening session on Tuesday following...
MANILA, Philippines - In a dramatic move, the International Criminal Court on Tuesday arrested the former president of the Philippines,...
BRUSSELS, Belgium: The United States has withdrawn from the board of a U.N. climate fund designed to help poor countries deal with...
NEW YORK CITY, New York - A student of Columbia University, arrested for protesting against the carnage inĀ Gaza, has been moved out...
LOS ANGELES, California: Los Angeles County, Pasadena, and other public agencies have sued Edison International and its subsidiary,...
WASHINGTON, D.C.: According to a report in the Wall Street Journal, former President Donald Trump is planning to sign an order to shut...
Already under siege, the heavily-blockaded Gaza Strip, housing more than two million displaced people, as well as the remaining Israeli...