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Asian Paints Q4 profit falls 2.1% to Rs 462 crore due to lockdown woes

In full year FY20, consolidated net profit (from continuing operations) increased by 25.5 percent and revenue grew by 5 percent compared to previous year, said the company in its BSE filing.

June 24, 2020 / 01:24 PM IST

Asian Paints on June 23 reported a 2.1 percent year-on-year decline in consolidated profit at Rs 462 crore for Q4FY20.

Analysts polled by CNBC-TV18 had estimated the figure at Rs 515 crore.

Revenue during the quarter also declined 7.1 percent to Rs 4,635.6 crore compared to corresponding period last fiscal.

"Loss of sales due to the lockdown in March 2020 impacted the decorative business segment in an otherwise strong quarter with double digit volume growth in the first two months of the quarter," Amit Syngle, Managing Director & CEO said.