Asian Paints net profit drops 20% YoY to Rs 441 crore in April-June

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New Delhi: Asian Paints posted a 20.23 per cent yearly decline in net profit at Rs 440.74 crore for the April-June quarter ended next to Rs 552.56 crore in the subsequent quarter previous year. Shares of the corporation were trading 0.61 per cent downward at Rs 1148.95.

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Trade touched a high and low of Rs 1161 and Rs 1140.25 correspondingly. Total income of the corporation augmented 5 per cent year-on-year to Rs 4306.60 crore throughout the June quarter. The corporation posted total income of Rs 4103.56 crore in the similar period previous year.

Profit before tax declined 19 per cent YoY to Rs 645.23 in Q1FY18 over Rs 797.34 in Q1FY17. Revenue from paints augmented by 5 per cent YoY whereas revenue from home upgrading reduced by 3.69 per cent YoY in June quarter.

KBS Anand, Managing Director and CEO, Asian Paints has also conveyed that, business in India recorded low single-digit volume expansion in the present quarter with the business getting impacted particularly in the month of June due to GST roll-out.

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