Asian Paints reported a consolidated net profit of Rs 1,170 crore for Q1 FY25, marking a nearly 25% decline year-on-year. The drop was attributed to a challenging demand environment and fell short of analyst expectations.
India’s largest paint manufacturer also saw its revenue from operations for the April-June quarter decrease by more than 2% year-on-year to Rs 8,970 crore, missing estimates.
The company’s PBDIT (Profit Before Depreciation, Interest, Tax, Other Income, and Exceptional Items), excluding profit share from associates, decreased 20% to Rs 1,693.8 crore from Rs 2,121.3 crore in the same period last year. The PBDIT margin as a percentage of net sales also contracted to 18.
TOPICS:
Asian Paints