Asian Paints ltd on Thursday announced its Q2 FY2021 results. The company reported a net profit of Rs 851.90 crore for the September quarter, a 1% growth YoY. It had posted a profit of Rs 842.14 crore in the corresponding quarter previous year.
The paint producer posted a total income of Rs 5,432.86 crore during the Q2 FY2021 period as compared to Rs 5,155.82 crore during the FY2020 period. In the previous quarter, it posted Rs 2,969.75 crore revenue.
The Mumbai based company has reported diluted Earnings per Share (EPS) of Rs 8.66 for the period. It had posted EPS of Rs 2.28 for the previous Q1 June period.
The company in its BSE regulatory filing stated, “The Board of Directors approved the payment of an interim dividend of ₹ 3.35 per share (335%). The Company distributed first interim dividend of ₹ 3.35 per share (335%) in October 2019 for FY 2019-20. Total dividend of ₹ 12.00 per share (1200%) was distributed for FY 2019-20. The dividend payout ratio was 51.1% for FY 2019-20.”
“All the business segments continued to witness improving demand conditions on a progressive basis during the second quarter of this financial year. The Decorative business segment registered good volume growths for each of the months and therefore a healthy double digit volume growth for the quarter with demand picking up across regions. The other business segments in India including the two industrial coatings business and both the segments in the Home Improvement category also experienced improving trends in line with the phased out re-opening of the economy. The International business portfolio did well supported by favourable market conditions in Middle East, Africa and Asia, with the exception of Nepal, which continued to witness challenging business conditions due to the pandemic. Profitability across businesses was well supported by a better product mix, the stable raw material prices, favourable foreign exchange rate and the large number of cost optimization measures put in place by the Management.”, said Amit Syngle, Managing Director & CEO, Asian Paints Limited.
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