The revenue from operations of Asian Paints has decreased by 42.7 per cent to Rs.2,922.66 crore from Rs 5,104.72 crore on a consolidated basis for the quarter ended June 30, 2020.
The paints segment, which contributes the majority part of this revenue, saw a decrease of 42.56 per cent to Rs 2,870 crore from Rs 4,996 crore last year.
Profit before depreciation, interest, tax, and other income (PBDIT) for the group decreased by 58.2 per cent to Rs 484.25 crore from Rs 1,157.94 crore.
Profit before tax (PBT) decreased by 70.2 per cent to Rs 305.76 crore from Rs 1,025.24 crore. Net profit after minority interest decreased by 66.7 per cent to Rs 218.45 crore as compared to Rs 655.44 crore in the previous corresponding period.
The company informed via a press release that the decorative business segment witnessed improving business conditions in just two months after April 2020 lockdown. It further added that the other segments such as industrial coatings and home improvement also witnessed improving trends in June 2020.
Profitability across businesses was well-supported by the softer raw material prices. The cost of material consumed decreased by almost 48 per cent in June 2020 quarter over the same quarter last year.
Asian Paints stock last 1 year
Source : www.nseindia.com
Asian Paints stock last 5 year
Source : www.nseindia.com
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