<p>New Delhi: <a href="https://www.deccanherald.com/tags/asian-paints">Asian Paints</a> on Tuesday reported a decline of 23.5 per cent in consolidated net profit at Rs 1,128.43 crore for the third quarter ended December 2024 amid downtrading due to muted demand and weak festive season.</p>.<p>The company had logged a net profit of Rs 1,475.16 crore during the October-December period a year ago, according to a regulatory filing by Asian Paints.</p>.<p>Its revenue from operations went down 6 per cent to Rs 8,549.44 crore in the December quarter. In the year-ago period, it stood at Rs 9,103.09 crore.</p>.Asian Paints shares tumble over 9 pc after weak earnings.<p>During the reporting quarter "muted demand conditions coupled with downtrading, and a weak festive season impacted revenue", said Asian Paints in its earnings statement.</p>.<p>Asian Paints' total expenses were at Rs 7,224.10 crore in the December quarter, down 1.33 per cent year on year.</p>.<p>Its total income, which includes revenue from other sources, was down 5.9 per cent at Rs 8,692.44 crore in the December quarter.</p>.<p>Managing Director & CEO Amit Syngle said: "The paint industry continued to be impacted by subdued demand conditions during the quarter, especially in the urban centres. We registered a 6.6 per cent decline in overall coatings business in India, including Industrial." The domestic decorative business delivered a 1.6 per cent volume growth while the standalone revenues declined by 7.5 per cent in the quarter impacted by the weak festive season demand, he said.</p>.<p>"While we saw sequential improvement in operating margins, the adverse mix coupled with increased sales and distribution expenses affected operating margins on a year-on-year basis," Syngle added.</p>.<p>In international business, Asian Paints sales increased by 5 per cent to Rs 818 crore in Q3 FY25, in comparison to Rs 779.1 crore of the corresponding period a year ago.</p>.<p>This was "on the back of improved macro-economic conditions in Sri Lanka, Bangladesh and Nepal offset by currency devaluation in Ethiopia and Egypt," the company said.</p>.<p>Over the outlook, Syngle said: "In the near term, we remain cautiously optimistic on a recovery in demand conditions while we continue to invest in our brand and focus on innovation." Asian Paints is India's leading paint and decor company, ranked among the top 8 coatings companies in the world with a consolidated turnover of Rs 35,382 crore. It has operations in 15 countries across the world with 27 paint manufacturing facilities, servicing consumers in over 60 countries.</p>.<p>Shares of Asian Paints Ltd on Tuesday were trading at Rs 2,408.35 on BSE during afternoon trade, up 5 per cent from previous close.</p>
<p>New Delhi: <a href="https://www.deccanherald.com/tags/asian-paints">Asian Paints</a> on Tuesday reported a decline of 23.5 per cent in consolidated net profit at Rs 1,128.43 crore for the third quarter ended December 2024 amid downtrading due to muted demand and weak festive season.</p>.<p>The company had logged a net profit of Rs 1,475.16 crore during the October-December period a year ago, according to a regulatory filing by Asian Paints.</p>.<p>Its revenue from operations went down 6 per cent to Rs 8,549.44 crore in the December quarter. In the year-ago period, it stood at Rs 9,103.09 crore.</p>.Asian Paints shares tumble over 9 pc after weak earnings.<p>During the reporting quarter "muted demand conditions coupled with downtrading, and a weak festive season impacted revenue", said Asian Paints in its earnings statement.</p>.<p>Asian Paints' total expenses were at Rs 7,224.10 crore in the December quarter, down 1.33 per cent year on year.</p>.<p>Its total income, which includes revenue from other sources, was down 5.9 per cent at Rs 8,692.44 crore in the December quarter.</p>.<p>Managing Director & CEO Amit Syngle said: "The paint industry continued to be impacted by subdued demand conditions during the quarter, especially in the urban centres. We registered a 6.6 per cent decline in overall coatings business in India, including Industrial." The domestic decorative business delivered a 1.6 per cent volume growth while the standalone revenues declined by 7.5 per cent in the quarter impacted by the weak festive season demand, he said.</p>.<p>"While we saw sequential improvement in operating margins, the adverse mix coupled with increased sales and distribution expenses affected operating margins on a year-on-year basis," Syngle added.</p>.<p>In international business, Asian Paints sales increased by 5 per cent to Rs 818 crore in Q3 FY25, in comparison to Rs 779.1 crore of the corresponding period a year ago.</p>.<p>This was "on the back of improved macro-economic conditions in Sri Lanka, Bangladesh and Nepal offset by currency devaluation in Ethiopia and Egypt," the company said.</p>.<p>Over the outlook, Syngle said: "In the near term, we remain cautiously optimistic on a recovery in demand conditions while we continue to invest in our brand and focus on innovation." Asian Paints is India's leading paint and decor company, ranked among the top 8 coatings companies in the world with a consolidated turnover of Rs 35,382 crore. It has operations in 15 countries across the world with 27 paint manufacturing facilities, servicing consumers in over 60 countries.</p>.<p>Shares of Asian Paints Ltd on Tuesday were trading at Rs 2,408.35 on BSE during afternoon trade, up 5 per cent from previous close.</p>