Asian Paints shares fell xyz% following company’s announcement of its Q2 FY25 financial results, reporting a minor quarter-over-quarter (QoQ) rise in revenue but a year-over-year (YoY) decline, impacting its share price.
For the quarter ending September 30, 2024, Asian Paints’ revenue from operations reached ₹8,027.54 crore, marking a 0.6% increase from ₹7,969.73 crore in the previous quarter. However, YoY revenue declined by 5.3%, down from ₹8,478.57 crore in Q2 FY24.
The company reported a profit before tax (PBT) of ₹959.04 crore for Q2 FY25, reflecting a substantial drop of 40.2% QoQ from ₹1,603.62 crore in Q1 FY25, and a 41.9% YoY decrease from ₹1,650.94 crore in Q2 FY24. Net profit for the quarter stood at ₹693.66 crore, down 41.6% from the previous quarter’s ₹1,186.79 crore and 43.7% lower than ₹1,232.39 crore in the same quarter last year.
Asian Paints also saw a 0.5% decline in volumes, contrary to expectations of 5-6% growth. This dip is attributed to weak consumer sentiment and adverse weather conditions like rain and floods that affected demand. The revenue from operations fell slightly short of expectations at ₹8,028 crore, while the profit after tax (PAT) stood at ₹695 crore, below ET Now’s estimate of ₹1,079 crore.
As of 9:15 am the shares were trading 7.23% lower at ₹2,569.35 on NSE
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