Asian Paint’s net profit jumps 81% at Rs 870 cr in Q4FY21
New Delhi: Asian Paint’s net profit jumped 81 percent at Rs 870 crore in the fourth quarter of the last fiscal as compared to the same period of the previous fiscal.
The jump may also be because of low base in fourth quarter of the previous fiscal.
Company's revenue from operations jumped 44 percent at Rs 6,651 crore as compared to the same period of the previous fiscal. It’s volume growth in the quarter under review jumped 48 percent, the company said in a regulatory filing.
"We have seen a very strong quarter aided by good demand across rural and urban areas at the country level. On the heels of a healthy Q2 and Q3 recovery, this quarter saw exceptional growth across businesses and consumer segments. This quarter the performance has been outstanding, discounting even the slightly lower base last year same quarter," said Amit Syngle, Managing Director & CEO, Asian Paints.
Domestic decorative business segment saw 48 percent volume growth in latest quarter. It was led by premium and luxury product range of the company.
For the whole of last fiscal, Asian Paints’ net profit jumped 16 percent at Rs 3,207 crore as against Rs 2,774 crore in the previous fiscal.
Company’s revenues from operations in the last fiscal increased 7 percent at Rs 21,712 crore as compared to Rs 20,211 crore in the previous fiscal.
The board of the company recommended a final dividend of 1,450 percent, that is, Rs 14.50 per equity share of the face value of Re.1 each for the last financial year.