The company had posted a profit of Rs 779.71 crore during the same period of previous fiscal. Revenue from operations for October-December quarter stood at Rs 6,886.39 crore, up 25.43 per cent, as against Rs 5,490.11 crore reported in the same period of 2019-20 fiscal, Asian Paints Ltd said in a regulatory filing. Amit Syngle, Managing Director & CEO, Asian Paints said demand conditions continued to exhibit a strong recovery across business segments, spread over most regions in the third quarter of this financial year. The domestic decorative business delivered a powerful performance with more than 30 per cent volume growth led by a strong performance in premium and luxury portfolios. The Home Dcor foray of Asian Paints got a big fillip from a strong performance of the Home Improvement business .
Asian Paints Q3 results: Profit surges 62% to Rs 1,238 crore, beats Street estimates
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Asian Paints had reported a net profit of Rs 764.43 crore for the corresponding period a year ago.
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Asian Paints posted a net profit of Rs 1,238.34 crore for the quarter ended December 31.
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Asian Paints on Thursday reported a 62 per cent year-on-year jump in net profit to Rs 1,238.34 crore for the December quarter. The paints manufacturer was expected to post a net profit of Rs 940 crore, according to estimates by 13 brokerages polled by ETMarkets.com.
The company had reported a net profit of Rs 764.43 crore for the corresponding quarter last year.
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Indigo Paints prices IPO at a discount to peers; only 99 times earnings
Lemon Tree Hotels has set a price band at Rs54-56 for shares issued in the Rs1000 crore IPO. Photo: iStockphotoPremium
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Consumer discretionary spends were among the most impacted by the pandemic. But for some reason, the already high valuations of paint stocks have become far more expensive in the past year. That is working in favour of Indigo Paints, which has priced its initial public offering (IPO) at ₹1,488-1,490 apiece.
An analysis by Anand Rathi Securities Ltd showed that at the upper end of the IPO price band, Indigo Paints is valued at 98.5 times its trailing 12-month (TTM) earnings. Its much larger competitors, Asian Paints Ltd and Berger Paints India Ltd, trade at price-to-earnings (PE) multiples of around 114 times and 128 times respectively, the broker said in a report on 16 January.