Asian Paints recorded a strong 62 per cent year-on-year growth in consolidated profit at Rs 1,238.3 crore for the quarter ended December 2020, on the back of strong volume growth during the festival season and operating performance. Profit in the period under review was at ₹ 764.4 crore.
Consolidated revenue from operations rose sharply by 25.2 per cent to Rs 6,788.5 crore in Q3FY21, compared with ₹ 5,420.3 crore in the year-ago period.
The Industrial coatings business posted strong performance, especially in protective coatings and auto original equipment (OE)
businesses that saw a robust rebound, aided by resurgence in the industrial activity.
Its earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 50.3 per cent year-on-year to ₹ 1,787.9 crore and margin expanded by 430 bps year-on-year to 26.3 per cent in the quarter ended December 2020.