Asian Paints recorded a strong 62 per cent year-on-year growth in consolidated profit at Rs 1,238.3 crore for the quarter ended December 2020, on the back of strong volume growth during the festival season and operating performance. Profit in the period under review was at Rs 764.4 crore.
Consolidated revenue from operations rose sharply by 25.2 per cent to Rs 6,788.5 crore in Q3FY21, compared with Rs 5,420.3 crore in the year-ago period.
The Industrial coatings business posted strong performance, especially in protective coatings and auto original equipment (OE)
businesses that saw a robust rebound, aided by resurgence in the industrial activity.
Its earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 50.3 per cent year-on-year to Rs 1,787.9 crore and margin expanded by 430 bps year-on-year to 26.3 per cent in the quarter ended December 2020.
Lower crude oil prices and cost savings helped the Mumbai-headquartered Asian Paints report strong gross and operating margin expansion for the quarter ended December 2020.
Asian Paints and its subsidiaries do business in 15 countries across the world with 26 paint manufacturing facilities.