New Delhi: Asian Paints today posted its Q1 Results. The company has reported a staggering twofold increase in its consolidated profit to Rs 574.30 crore for the first quarter ended June 30, 2021. The profits was posted on account of higher revenue from operations, according to a PTI report.
Asian Paints Q1 Results 2021-2022
- Notably, Asian Paints had posted a profit of Rs 219.61 crore during the April-June quarter of the previous fiscal, the PTI report says.
- Its revenue from operations during April-June 2021 jumped 91.1 per cent to Rs 5,585.36 crore as against Rs 2,922.66 crore in the same period previous fiscal, Asian Paints said in a regulatory filing, as per a PTI report.
- “The domestic decorative business more than doubled its volume and delivered stellar revenues over the lower base of last year which had suffered from the first nationwide lockdown,” Asian Paints Managing Director and CEO Amit Syngle was quoted as saying by PTI.
- Syngle added that the business registered strong compounded average growths in value and volume in comparison with Q1 FY20 which was a normal quarter, indicative of a strong consistent trajectory.
- The company’s industrial business and the home improvement business also doubled its revenue on last year’s low base, Syngle said.
- Shares of Asian Paints Ltd on Tuesday were trading 6.04 per cent higher at Rs 3,159.20 apiece on BSE.
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