Asian Paints on May 11 reported consolidated net profit of Rs 1,234.14 crore in the March quarter of FY23, a growth of 45.12 percent from Rs 850.42 crore in the year-ago period.
The company's revenue from operations came in at Rs 8,787.34 crore, rising 11.33 percent over Rs 7,892.67 crore in the year-ago quarter.
The board recommended payment of the final dividend of Rs 21.25 per equity share for the financial year FY23, subject to approval of the shareholders.
In this quarter we have logged in the highest value ever, with the decorative and non-automotive Industrial businesses registering double digit volume and value growths," said Amit Syngle, Managing Director & CEO of Asian Paints Limited.
Sequentially, the company said, Q4 standalone and consolidated PBDIT margin increased by 300 bps and 260 bps respectively, compared to Q3.
"We have been able to improve our margins in the quarter sequentially and over last year through our persistent work on formulation and sourcing efficiencies and also helped by the easing inflation in raw material prices. In Home décor, our new categories of fabrics, decorative lighting, UPVC doors and windows did well, while Kitchen and bath were sluggish. The Global business was good in Middle East and Africa though but slower in Asia, however overall, delivered good bottom line numbers," Syngle said.
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