“The company has been reporting a good set of numbers on the industrial side since the last few quarters. However, the core decorative business, has been a little sluggish since the last two quarters. So definitely, volume growth is coming up. We will see how the second half goes for the company and the industry as well.”
Asian Paints reported a consolidated net profit of Rs 1,232.39 crore, up 53.31 percent from year-ago period. Sequentially the profit was down 21.74 percent.
International Business supported robust growth in the Middle East but was constrained by macroeconomic challenges in key markets of South Asia and Egypt.
Asian Paints saw equal growth in T1, T2 and T3, T4 cities, according to Amit Syngal, CEO. The projects division has done particularly well, with B2B customers, builders, factories and government spending showing strong signs of recovery. A good performance in the industrial sector was also reported. Syngal also said that, buoyed by a longer season and strong monsoons, Q2 and Q3 looked good.