Asian Paints has reported a dip of 43.71 per cent in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 693.66 crore in Q2 FY25 as against Rs 1,232.39 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 8,201.09 crore in Q2 FY25, a dip of 5.12 per cent from Rs 8,643.77 crore it recorded in the similar quarter last year.
The board of directors approved the payment of interim dividend of Rs 4.25 per equity share of the face value of Re 1 each for the financial year ending March 31, 2025.AdvtOn July 3, 2024, the company has infused Rs 197.94 crore in Asian Paints International (APIPL), Singapore, a wholly-owned subsidiary.
It also infused Rs 200 crore as equity share capital in two equal tranches on July 8, 2024 and September 20, 2024 respectively into Asian Paints (Polymers) (APPPL), a wholly-owned subsidiary engaged in the manufacturing of Vinyl Acetate Monomer (VAM) and Vinyl Acetate Ethylene Emulsion (VAE) in India.
Domestic Decorative coatings segment volumes declined marginally while overall domestic coatings revenue declined by 5.5% for the quarter impacted by muted consumer sentiments and extended rains and floods in some parts of the country. Operating margins were impacted by the price reductions taken last year, higher material prices and increased sales expenses. While we took price increases during the quarter, full impact of the same should flow through only in the second half of the year.
On the margin front, soft demand conditions, product mix and material price inflation affected margins in Q2. We expect margins to recover in the coming quarters on the back of anticipated softening in material prices coupled with price increases implemented in the last few months,” said Amit Syngle, managing director & CEO of the company.
Consolidated net sales decreased by 5.3% to Rs 8,003.0 crore in Q2 FY25. In the bath fittings business-sales increased by 2.1% to Rs 83.1 crore while PBDIT loss was Rs 5.8 crore in Q2 FY25. In the kitchen business- sales increased by 8.8% to Rs 105.3 crore and PBDIT loss was Rs 0.1 crore in Q2 FY25.
