Asian Paints Q4 Result: Net profit due to loss in Sri Lanka stood at Rs 850.42 crore, declared a dividend of Rs 15.50 Asian Paints on Tuesday declared its results for the quarter ended March 31. The company's net profit declined 0.20% to Rs 850.42 crore for the quarter. It was Rs 852.13 crore in the same quarter last year. The company said in a BSE filing that the profit has been reduced due to a sudden loss of Rs 115.70 crore in Sri Lankan business and a delay in subsidy from the government.
The company's revenue from sales grew 20.60% to Rs 7,889.94 crore in the March quarter. It was Rs 6,541.94 crore in the same quarter last year. The firm has also declared a final dividend of Rs.15.50. Shares of Asier Paint on Tuesday closed higher by Rs 85.75 or 2.85% at Rs 3,091.00. This stock has given a negative return of 9.68% this year.
Amit Singal, Managing Director and CEO, Asian Paints, said, "Despite the increased uncertainty from COVID, macro-economic challenges and geopolitical tensions, the company posted solid and strong double-digit growth value growth across all businesses for another quarter." He said the domestic decorative business has grown strongly. International business also witnessed double-digit revenue growth.