India News Get -BusinessAsian Paints Second Quarter Result: Asian Paints Profit Falls 42% YoY to ₹694 Crore; Board approves interim dividend of ₹4.25
After the Diwali season, Asian Paints Limited reported a consolidated net profit of Rs 694.64 crore in the second quarter (July-September) of the financial year 2024-25. There was a 42% decline on an annual basis. A year ago, the company had made a profit of Rs 1,205.42 crore.
During this period, the company’s turnover stood at Rs 8,003 crore after a decline of 5.3 per cent. In the same quarter a year ago, the company had generated a revenue of Rs 8,452 crore. The company today (Saturday, November 9) released its second quarter (Q2FY25) results.
The company will pay a dividend of ₹4.25 per share
Apart from the results, the board of directors of Asian Paints also approved an interim dividend of Rs 4.25 per share for shareholders. Companies return part of the profits to their shareholders, this is called the dividend.
Net profit decreased by 40% on a quarterly basis
At the same time, the company’s net profit decreased by 40.68% in July-September on a quarterly basis, i.e. compared to April-June. The company made a net profit of Rs 1,170 crore in the first quarter of the financial year 2024-25.
Asian Paints shares fell 10.17% in a year
Shares of Asian Paints closed at Rs 2,767, down 2.67% from the previous day on Friday. Shares of Asian Paints have returned 2.10% over the last 6 months.
We see a drop of 10.17% in one year. If we only talk about this year, that is, from January 1 to today, the share of Asian paintings fell by 18.52%. The market capitalization of the company is Rs 2.65 lakh crore.
Asian paintings activity in more than 60 countries
Asian Paints was established in 1942. It was started by 4 friends in partnership. It has held a significant share of the Indian paint market since 1968. Currently, Asian Paints operates in 15 countries. It has 27 paint manufacturing plants worldwide, providing customer service in more than 60 countries.
It operates in a 50/50 joint venture with PPG Inc. of America, one of the world’s largest automotive coatings manufacturing companies. The Asian Paints group has many companies. These include Asian Paints Berger, Epco Coatings, SCIB Paints, Taubmans, Asian Paints Causeway and Cadisco Asian Paints which provides services worldwide.