Asian Paints today reported a 19.87 percent increase in consolidated net profit at Rs 408.75 crore for the March quarter. The company had posted a net profit of Rs 340.97 crore in the corresponding period last year. Its consolidated sales during the fourth quarter rose 12.28 percent to Rs 3,919.23 crore as against Rs 3,490.39 crore in the year-ago period, Asian Paints said in a BSE filing.
"The decorative business segment in India registered double digit volume growth in the fourth quarter. Lower raw material prices aided gross margins... The international business registered good performance in the fourth quarter on the back of growth in key markets of the Middle East and Bangladesh," MD and CEO of Asian Paints K B S Anand said. For the entire fiscal, the firm's consolidated net profit surged to Rs 1,726.21 crore as against Rs 1,395.15 crore in 2014-15. Net sales stood at Rs 15,330.72 crore in 2015-16 compared with Rs 14,005.33 crore in the previous fiscal.
In a separate filing, Asian Paints said its Board of Directors has approved payment of final dividend of Rs 5.30 per equity share of the face value of Rs 1 each for the financial year ended March 31, 2016.
Asian Paints has informed that the Board of Directors of the Company at its meeting held on May 11, 2016, has approved the payment of final dividend of Rs. 5.30 per equity share of the face value of Re. 1 each for the financial year ended March 31, 2016, subject to the approval of the shareholders at the ensuing 70th AGM.
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