Asian Paints Q1 net profit jumps 70.72% at Rs 1017.28 cr
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The company reported standalone net profit of Rs 1,017.28 crore for the quarter ended June 30, 2022 as compared to Rs 595.86 crore in the same period last year, registering a year-on-year growth of 70.72 per cent. Net revenue of the company rose substantially by 59.63 per cent at Rs 7,555.80 crore in April-June quarter of this fiscal as against Rs 4,733.30 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 56.86 per cent to Rs 6,123.65 crore from Rs 3,903.96 crore in year ago period. Other Income grew by 7.91 per cent at Rs 113.84 crore versus (Jun'21 Rs 105.50 crore). Operating Profit surged by 65.83 per cent to Rs 1,462.58 crore as against Rs 881.95 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 3.92 per cent in June quarter. Interest grew by 21.27 per cent y-o-y to Rs 19.90 crore, while Taxation increased by 78.64 per cent at Rs 355.13 crore (Jun'21 Rs 198.80 crore).
