Asian Paints Q4 net down to Rs 251cr; approves stock split

Asian Paints reported 3 percent drop in its consolidated net profit to Rs 251 crore from Rs 259 crore, a year ago. Asian Paints is one of India's leading paint companies. Its consolidated total income grew by 7 percent to Rs 2,733 crore as against Rs 2,546 crore. The stock was down 4 percent.

Its earnings before interest, taxes, depreciation and amortization (EBIDTA) was up marginally at Rs 393 crore as against Rs 383 crore, in the same period last year. However, its operating profit margins declined to 14.4 percent versus 15 percent, a year ago.

The company has approved the sub-division of equity shares of the company of the face value of Rs 10 each fully paid up into 10 shares of the face value of Re 1 each fully paid up, subject to the approval of the shareholders at the ensuing Annual General Meeting.

Today the stock closed at Rs 4,673.60, down Rs 176.20, or 3.63 percent. It has touched an intraday high of Rs 4,924.75 and an intraday low of Rs 4,590.50. It was trading with volumes of 50,416 shares.