Asian Paints announced its financial results for the quarter and nine months ended Dec. 31, 2020.

Demand conditions continued to exhibit a strong recovery across business segments, spread over most regions in the third quarter of this financial year. The domestic Decorative business delivered a powerful performance with more than 30% volume growth led by a strong performance in premium and luxury portfolios,” said Amit Syngle, managing director and CEO, Asian Paints Limited. “The Home Décor foray of Asian Paints got a big fillip from a strong performance of the Home Improvement business. The Industrial coatings business delivered a robust performance, particularly in Protective coatings and Auto OE businesses which rebounded in a big way, benefited by resurgence in the industrial activity. The International business recorded a double-digit volume growth, strongly led by good growth in Asia and Middle East. Profitability across businesses has been well supported by a good sales mix and some excellent work in cost optimization and sourcing measures pursued strongly through innovation programs.”

For the quarter ended Dec. 31, 2020, on consolidation of accounts of the subsidiaries and associate of Asian Paints – Revenue from operations has risen by 25.2% to ₹6,788.47 crores from ₹5,420.28 crores. Profit before depreciation, interest, tax and other income (PBDIT) for the group (before share in profit of associates) increased by 50.3% to ₹1,787.89 crores from ₹1,189.39 crores. Profit Before Tax (from continuing operations) increased by 60.5% to ₹1,696.76 crores from ₹1,057.28 crores. Net Profit after Non- controlling Interest (from continuing operations) increased by 62% to ₹1,238.34 crores as compared to ₹764.43 crores in the previous corresponding period.

For the nine months ended Dec. 31, 2020, Asian Paints Group Revenue from operations has decreased by 3.3% to ₹15,061.36 crores from ₹15,575.66 crores. PBDIT for the group (before share in profit of associates) has increased by 7.1% to ₹3,537.34 crores from ₹3,302.15 crores. Profit Before Tax (from continuing operations) increased by 7.3% to ₹3,148.04 crores from ₹2,934.77 crores. Net Profit after Non-controlling Interest (from continuing operations) increased by 2% to ₹2,287.16 crores as compared to ₹2,243.28 crores in the previous corresponding period.

For the quarter ended Dec. 31, 2020, Revenue from operations increased by 26.1% to ₹5,872.81 crores from ₹4,656.88 crores. PBDIT for the quarter increased by 48% to ₹1,654.18 crores from ₹1,117.91 crores. Profit Before Tax increased by 56.3% to ₹1,589.81 crores as compared to ₹1,017.42 crores in the previous corresponding period.

For the nine months ended Dec. 31, 2020, Revenue from operations decreased by 3.5% to ₹12,846.08 crores from ₹13,315.08 crores. PBDIT for the period increased by 6.2% to ₹3,270.77 crores from ₹3,081.21 crores. Profit Before Tax on a standalone basis increased by 6.8 % to ₹2,986.88 crores as compared to ₹2,796.77 crores in the previous corresponding period.
 
 

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