SME Times is powered by   
Search News
Just in:   • Equity indices break two-day losing streak on value buying  • IMF urges Sri Lanka to tighten monetary policy  • Global semiconductor sales to reach $676 bn this year: Gartner  • Tinna Rubber hits upper circuit, investors accumulate 900% returns in year  • Availability of jobs in Japan improves for 1st time in 3 yrs 
Last updated: 12 May, 2017  

asian.paints.thumb.jpg Asian Paints' Q4 consolidated net profit up 10 pc

   Top Stories
» Net direct tax collection reaches highest-ever figure in FY 22
» Musk has to manufacture here to sell Tesla cars in India: Gadkari
» Round tripping of industrial inputs by large players unfavourable to local value chains
» Sitharaman engages investors in Silicon Valley
» Modi hails India's success in achieving target of $400 billion of exports
SME Times News Bureau | 12 May, 2017
Decorative coatings company Asian Paints on Thursday reported an increase of 10.4 percent in its consolidated net profit for the fourth quarter (Q4) of 2016-17.

According to the company, its consolidated net profit during the quarter under review increased to Rs 462.22 crore from Rs 418.70 crore in the corresponding period of 2015-16.

Asian Paints' consolidated revenue from operations (on consolidation of accounts of the subsidiaries and associate of Asian Paints) during the quarter under review rose by 8.9 percent to Rs 4,416.23 crore from Rs 4,053.83 crore.

"The decorative business segment in India registered a low double digit growth in the current quarter after witnessing some recovery from the impact of demonetisation. Raw material prices have moved up over the last two quarters necessitating price increases to protect margins," K.B.S. Anand, Managing Director and CEO, Asian Paints was quoted as saying in a statement.

"Good demand conditions in the auto OEM and general industrial business segment led to improved performance of the automotive coatings JV (PPG-AP). In the industrial coatings JV (AP-PPG), industrial liquid paints, road marking paints and powder coatings segment registered good growth."

"Our international business performed well aided by strong performance in markets like Nepal, Jamaica, Fiji, Oman and Bahrain. Both the segments in the Home Improvement category viz. the kitchen (sleek) and bath (ESS ESS) business, delivered good top line growth in the quarter."

On a full financial year 2016-17 basis, Asian Paints reported a 11.1 percent increase in its consolidated net profit (after minority interest) to Rs 1,939.42 crore from Rs 1,745.16 crore in 2015-16.

The company's consolidated group revenue from operations during the fiscal under review increased by 7.8 percent to Rs 17,084.76 crore from Rs 15,841.69 crore.

The company's Board of Directors has recommended a final dividend of Rs 5.65 per equity share. The board has further recommended a one-time special dividend of Rs 2 per equity share of the face value of Rs 1 each for celebrating "75 years of Excellence at Asian Paints".

In addition, Asian Paints' approved the reappointment of K.B.S Anand as Managing Director and CEO of the company for a further period of two years with effect from April 1, 2018, subject to shareholders' approval.
Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 27 Apr, 2022
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter