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Asian Paints has announced its financial results for Q1, ended June 30, 2013. KBS Anand, MD and CEO, Asian Paints Limited, stated: "The Decorative paints business in India did well considering the challenging and uncertain macro environment. Paints volume grew in double digits. Raw material prices were, by and large, stable with a softening bias but were affected by the depreciation of the rupee."
According to Asian Paints’ Q1 figures, paints volume grew in double digits. "The Industrial paints segment continues to be affected by the economic slowdown. Automotive coatings growth was subdued due to lower demand in the auto sector. International Business registered good growth. Middle East and Asia have done well even though some countries continued to be affected by political events and macro-economic uncertainty,” he added.
Net Profit of the Group was 275.2 crores (288.4 crores yr-on-yr). Income from operations rose by 11.6% to 2841.1 crores (2546.1 crores yr-on-yr). PBDIT for the group increased by 4% to 464.7 crores. Profit before tax was 423.9 crores (426.2 crores yr-on-yr).