Asian Paints on Tuesday reported a 52 per cent rise in consolidated net profit for the quarter ended June 30. The paints major posted a net profit of Rs 1,574.84 crore compared with Rs 1,036.03 crore in the corresponding period of the previous year.
Revenues rose to Rs 9,153.79 crore from Rs 8,578.88 crore in the year-ago period, a rise of almost 7 per cent.
“Our domestic decorative business registered double-digit volume growth and a relatively healthy value growth, coming on a high base of the previous year. Both the auto and the general industrial coating businesses achieved a strong double-digit revenue growth, led by growth in the protective and powder coatings segment.
“Our international business was supported by good deliveries from West Asia. However, continued macro-economic challenges and adverse forex conditions in Asian markets resulted in an overall subdued growth for the international portfolio,’’ Amit Syngle, managing director and CEO of Asian Paints, said.
Bajaj Auto net jumps
Bajaj Auto on Tuesday reported a 42 per cent jump in standalone profit after tax at Rs 1,665 crore in the June quarter, aided by strong volume growth, better cost management and stronger forex realisation. The Pune-based vehicle maker had reported a standalone PAT of Rs 1,173 crore in Q1FY23.
Revenue from operations rose 29 per cent to Rs 10,310 crore from Rs 8,005 crore a year ago.
Executive director Rakesh Sharma said the company has clocked 17,000 bookings for the two motorcycles it launched in collaboration with Triumph earlier this month.
