Asian Paints shares dropped due to disappointing December quarter earnings. Kotak Institutional Equities recommended a Reduce rating, Motilal Oswal reiterated a Neutral view, while Nuvama remained upbeat with a buy recommendation. Asian Paints reported a 35% YoY rise in consolidated net profit for the quarter. Consolidated revenue from operations grew by 5.4% YoY.
Asian Paints to announce Q3 earnings along with 21 other companies. Federal Bank and Bank of Maharashtra posted YoY jump in profit after tax. Asian Paints is likely to report strong Q3 results. LTI Mindtree is expected to report constant currency revenue growth.
Asian Paints Q3 Results: Asian Paints reported a 35% YoY rise in Q3 profit to Rs 1,448 crore, beating estimates. Consolidated revenue from operations grew by 5.4% YoY to Rs 9,103 crore. The decorative business in India recorded a 12% volume growth and 5.5% value growth. The company s Q3 operational performance improved due to input cost pressures and a favourable mix.