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May 09, 2012, 11.31 AM IST
Asian Paints, country's largest paint company by market cap has reported a higher than expected growth of 34.4% year-on-year in its consolidated net profit at Rs 250 crore for the fourth quarter of FY12.
Consolidated net sales increased 29.5% to Rs 2,539 crore in the January-March quarter of 2012 as against Rs 1,961 crore in a year ago period. Analysts on average had expected net profit at Rs 223 crore and net sales at Rs 2,389 crore. Asian Paints has decided to pay a dividend of Rs 30.50 a share to its shareholders. The stock has touched a 52-week high of Rs 3,700 crore, before closing up 0.5% at Rs 3,652.80 today.
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