Asian Paints Posts 14-pc Net Profit, Stock Fades Colour

Gouache paint isolated on a white background

Asian Paints Limited, India’s biggest paint maker by market capitalization, today reported strong numbers for Q3FY2019 regardless of high raw material prices in the December quarter. 

The colour company’s total sales for Q3FY2019 arrived at Rs. 5,293.99 cr, as against Rs. 4,267.49 cr, in previous year, representing a 24.1% growth on YoY. While consolidated net profit for the Q3 was up by 14.6% at Rs. 635.60 cr, as against Rs. 554.64 cr in the equivalent period a year back, earnings before interest, tax, depreciation and amortization (EBITDA) was at Rs. 1,043 cr v/s Rs. 891 cr, up 17% YoY.

Asian paints stock was attacked with sustained intraday volatility, clocking share price an intraday peak level Rs.1,432.05 and a  low of Rs.1,375.25 per share, respectively on the NSE.  However, the stock closed at Rs. 1,405.85, down by Rs. 17.25 or 1.21 per cent on the NSE.

Calls for Tomorrow

BUY INFY FUTURE ABOVE 751 TARGETS 759.35 
BUY NIITTECH FUTURE ABOVE 1302 TARGETS 1315.35

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