Asian Paints Q4 results: Net profit flat at Rs 850.4 cr, revenue up 18.7%
Asian Paints’ net profit attributable to its share owners was largely flat at Rs 850.4 crore in the March quarter of financial year 2021-22 (Q4FY22), compared with Rs 852.1 crore in the year-ago period. The paints major saw its revenue increase 18.7 per cent to Rs 7,892.7 crore in the quarter.
“The international business managed to deliver a double-digit revenue growth for the quarter despite severe challenges in key markets. The industrial coatings business closed the quarter with another round of robust double-digit revenue growth with continued momentum in the protective coatings segment,” Amit Syngle, managing director and chief executive officer of Asian Paints, was quoted as saying in a release issued by the firm:
He, however, pointed out that the scale-up in the home décor business continued unhindered, with the firm making further inroads through network expansion and the introduction of unique value propositions for its customers. “We continued to improve our operating margins on a sequential basis, which was a result of some calibrated price increases, driving the premium and luxury product growths, coupled with some strong work on driving operational efficiencies across businesses,” he said.
During the quarter, its margins declined to 19.4 per cent, compared with 21.0 per cent in the year-ago quarter, while its PBIDT rose 9.5 per cent to Rs 1532.6 crore.
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