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Business EconomyPosted at: Nov 9 2024 3:57PM


Asian Paints Q2 profit slides 44 pc to Rs 695 cr

New Delhi, Nov 9 (UNI) Impacted by subdued demand, Asian Paints on Saturday reported 44% year-on-year decline in consolidated net profit to Rs 694.64 crore for July-September quarter (Q2) of the current financial year 2024-25.
The company had posted a profit of Rs 1232.39 crore in the Q2 of previous financial year 2023-24.
Asian Paints' revenue from operations during the September quarter of the current financial year stood at Rs 8,027.54 crore, down 5.31% from Rs 8,478.57 crore in the corresponding quarter of the previous financial year.
In a media release, the company said that its revenue was affected by price cuts taken last year, shift in mix and increased rebates. It further said that the impact of price increases implemented during Q2 is expected to flow through in the second half of the year.
‘’The paint industry faced a subdued demand environment during the quarter. Domestic Decorative coatings segment volumes declined marginally while overall domestic coatings revenue declined by 5.5% for the quarter impacted by muted consumer sentiments and extended rains and floods in some parts of the country," said Amit Syngle, Managing Director & CEO of Asian Paints.
He further said, "While demand conditions remain challenging, we continue to direct our efforts towards leveraging our brand strength, robust supply chain and distribution network to pursue growth."
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Tags: #Asian Paints Q2 profit slides 44 pc to Rs 695 cr
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