Asian Paints Profit falls by 18%: margins take a hit

Asian Paints Profit falls by 18%: margins take a hit

Amit Syngle, the Managing Director and CEO of Asian Paints, said the sharp and unprecedented inflationary trend in commodity prices continues to impact the gross margins of all companies this quarter.

Asian Paints Ltd.’s consolidated net income for the third quarter, which ended in December 2021, fell 18.5% to 1,031 crores on Thursday as commodity price inflation continued to weigh on the company’s overall business gross profit—reported that it reached rupees.

This decrease in profit is related to the increased input costs and the current market conditions.

The business had a profit of Rs 1,265.35 in the previous fiscal year and reported October-December quarter financials of Asian Paints are a regulatory filing. Operating profit for the quarter was up 25.61% to Rs 8,527.24. The same was Rs 6,788.47 for the corresponding period in the previous fiscal year. Amit Syngle, Managing Director and CEO of

 Asian Paints said the sharp and unprecedented inflationary trend in commodity prices continues to impact the gross margins of all companies this quarter.

 “Significant price increases were made in November and December to mitigate the effects of this inflation and continuously improve profit margins.”

 The company’s total spending was 7,220.29 rupees, the same as last year. It increased by 38.46% compared to the time. The same was true for 5,214.88 rupees in the previous year’s third quarter. Revenue from the paint sector increased 25.39 percent to Rs 831.9.42, and revenue from the home refurbishment sector increased 36.42 percent to Rs 209.26 billion.

 “The home refurbishment business continued to grow steadily, steadily expanding nationwide and recording solid performance,” Syngle said.

 The domestic decorative business registered yet another double-digit solid growth performance, five quarters in a row, with an 18 percent volume growth, on a strong base of the previous year. The industrial coatings business also registered a robust double-digit revenue growth, especially in the protective coatings segment, Syngle said.



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