Asian Paints Ltd has reported an 80.39 per cent increase in its consolidated net profit to Rs 1,036.03 crore for the first quarter ended on June 30, 2022, as the business grew both in volume and value terms.
The company had posted a net profit of Rs 574.30 crore during the April-June quarter of the previous fiscal.
Its revenue from operations was up 55 per cent to Rs 8,578.88 crore during the quarter under review as against Rs 5,534.87 crore in the corresponding period of the previous fiscal. Asian Paints’ total expenses were at Rs 7,287.84 crore, up 48.91 per cent in Q1/FY 2022-23, as against Rs 4,893.87 crore in the corresponding period.
Asian Paints Managing Director & CEO Amit Syngle said the domestic decorative business experienced good consumer demand and recorded stellar revenue growth for the quarter. “The volume growth registered in the quarter is one of the highest in the last six quarters. The business also registered robust 4-year compounded growth in volume and value terms,” he said.
Asian Paints’ international business also delivered a good double-digit revenue growth for the quarter despite multiple headwinds across key geographies.