Asian Paints net profits increases 36%; net sales rise by 13%

Our Corporate Bureau
17 October 2002

Mumbai: Asian Paints has announced its financial results for the quarter and nine months ended 31 December 2002.

For the nine months ended 31 December 2002, net sales of the company stood at Rs 11,278.8 million compared to Rs 9,982.0 million, an increase of 13 per cent. The PBDIT (profit before depreciation, interest and taxation) was Rs 2,223.4 million compared to Rs 1,719.2 million in the corresponding nine-month period of the previous financial year, registering an increase of 29.3 per cent.

The profit before tax was Rs 1,816.8 million compared to Rs 1,311.4 million, an increase of 38.5 per cent. The net profit for the nine months ended 31 December 2002 has increased by 35.9 per cent to Rs 1,138.1 million compared to Rs 837.4 million in the corresponding period of the previous financial year.

For the third quarter ended 31 December 2002, net sales for the company registered growth of 9.1 per cent at Rs 4,133.6 million compared to Rs 3,787.9 million for the corresponding quarter of the last financial year. The PBDIT for the quarter increased by 22.9 per cent to Rs 816.23 million compared to 664.4 million.

The profit before tax was Rs 687.5 million compared to Rs 532.9 million in third quarter of the previous financial year registering an increase of 29 per cent. The net profit for the quarter was Rs 436.7 million compared to Rs 343.5 million, registering an increase of 27.1 per cent.