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Published on 22/01/2020 3:13:57 PM | Source: Dion Global Solutions Ltd

Asian Paints Q3 net profit up 20.28% at Rs 758.89 cr

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The company reported standalone net profit of Rs 758.89 crore for the quarter ended December 31, 2019 as compared to Rs 630.96 crore in the same period last year, registering a year-on-year growth of 20.28 per cent. Net revenue of the company rose marginally by 2.66 per cent at Rs 4,656.88 crore in October-December quarter of this fiscal as against Rs 4,536.05 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 0.32 per cent to Rs 3,538.97 crore from Rs 3,550.25 crore in year ago period. Other Income grew by 39.90 per cent at Rs 92.78 crore versus (Dec'18 Rs 66.32 crore).

Operating Profit surged by 13.40 per cent to Rs 1,117.91 crore as against Rs 985.80 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 10.49 per cent in December quarter. Interest grew by 124.71 per cent y-o-y to Rs 19.55 crore, while Taxation decreased by 16.40 per cent at Rs 258.53 crore (Dec'18 Rs 309.23 crore).