For the quarter ended June 30, 2011, Asian Paints has announced a net profit increase of 18.7% to Rs263.7 crores from Rs222.2 over the previous corresponding quarter.
Sales and operating income has risen by 23.5 % to Rs2260.4 crores from Rs1830.2. Profit before depreciation, interest and tax (PBDIT) for the group has increased by 15.6% to Rs422.7 crores from Rs365.5. Profit before tax has increased by 15.8 % to Rs387.1 crores from Rs334.4.
P M Murty, MD and CEO, Asian Paints said: "The company witnessed good growth during the quarter driven by favourable demand for decorative coatings across the country.
"However, demand in June has not been robust. Demand conditions for international and industrial businesses continue to be challenging. Input costs rose sharply necessitating price increases aggregating to 8% until now. The impact of these increases on demand will need to be gauged”.