Asian Paints Ltd on Tuesday released its fiscal third quarter earnings report with profit at Rs 1128.43 crore, recording a drop of 23.50 per cent in comparison to Rs 1475.16 crore during the corresponding quarter of FY24. It reported revenue from operations at Rs 8521.51 crore, down 6.10 per cent as against Rs 9,074.94 crore during the third quarter of previous financial year. The company EBITDA stood at Rs 1637 crore. Consolidated net sales, it said, decreased by 6.1 per cent to Rs 8521.5 crore from Rs 9074.9 crore YoY.
For the nine months period, Asian Paints posted net sales of Rs 25,467.8 crore, down 4.5 per cent YoY. Net profit after minority interest dropped by 29.2 per cent during 9MFY25 at Rs 2975.1 crore from Rs 4203.5 crore.
Amit Syngle, Managing Director & CEO of Asian Paints, said, “The paint industry continued to be impacted by subdued demand conditions during the quarter, especially in the urban centers.”
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Asian Paints’ Q3 performance across segments
International business: Asian Paints posted sales growth of 5.0 per cent in Q3FY25 to Rs 818.0 crore from Rs 779.1 crore on the back of improved macro-economic conditions in Sri Lanka, Bangladesh and Nepal offset by currency devaluation in Ethiopia and Egypt. In constant currency terms, sales increased by 17.1 per cent. PBT in Q3 was at Rs 60.8 crore as against Rs 58.3 crore in the corresponding period of previous year.
Home Décor business:
i. Bath Fittings business posted sales increase of 2.6 per cent in Q3 to Rs 87.6 crore. PBDIT loss in Q3FY25 was Rs 6.3 crore against loss of Rs 5.5 crore in the corresponding period of the previous year.
ii. Kitchen business recorded a sales increase of 2.7 per cent to Rs 102.7 crore from Rs 100.1 crore.
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