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    Asian Paints Q2 profit grows 68% YoY to Rs 823 crore; Rs 3.35 per share interim dividend announced

    Synopsis

    The decorative business segment in India recorded high double digit volume growth.

    Paint-2---shutterShutterstock.com
    Consolidated revenue for the quarter rose 9.4 per cent to Rs 5,050.66 crore compared with Rs 4,615.49 crore in the corresponding quarter last year.
    Asian Paints on Tuesday reported a 67.5 per cent year-on-year (YoY) rise in consolidated net profit at Rs 823.41 crore for the September quarter. The company had reported profit of Rs 491.58 crore in the same quarter last year.

    Consolidated revenue for the quarter rose 9.4 per cent to Rs 5,050.66 crore compared with Rs 4,615.49 crore in the corresponding quarter last year.

    PBIDT for the quarter jumped 13 per cent to Rs 954.82 crore, the paints company said in a BSE filing.

    The decorative business segment in India recorded high double digit volume growth. But the growth was lower than that witnessed in the June quarter.

    The entire coatings business benifited from benign raw material prices. However, the home improvement segment was hit by slowdown in construction space.

    In case of international market, the second quarter was better than the first quarter, thanks to good show by units in Nepal and Egypt.

    The company board declared an interim dividend of Rs 3.35 per share.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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