Asian Paints reports ‘satisfactory growth’

Asian Paints Limited has announced its financial results for the Q4 and year ended March 31, 2013.
"The company registered satisfactory growth inspite of the challenging environment. We witnessed slowdown in demand conditions in the quarter” said KBS Anand, MD and CEO, Asian Paints Limited
"Industrial paints segment continues to be impacted due to economic slowdown. Automotive coatings growth was affected due to subdued demand in the auto sector. International Business has recorded a good performance. Middle East has done well, even though political events and macro economic uncertainty in some countries continue,” he added.
For Q4, consolidated income from operations was up by 7.5% to 2733.1crores and standalone income from operations increased by 7.5% to 2232.5crores, while for FY’2013 consolidated income from operations was up by 13.9% to 10970.7crores and standalone income from operations increased by 12.7% to 8971.7crores.