Asian Paints: This week, many well-known businesses, including SpiceJet, L&T Finance, and Bajaj Auto, released their quarterly results for the first quarter of FY25. Twenty-two corporations are expected to release their quarterly profits this Wednesday. Today is Muharram, and the stock markets are closed.
Q1 findings released today
On July 17, the following organizations will release their Q1 FY25 results: Adarsh Plant Protect, Artson Engineering, Asian Paints, Elecon Engineering Co., Franklin Industries, Hathway Cable & Datacom, Integra Engineering India, Lotus Chocolate Co., LTIMindtree, National Standard (India), Parshva Enterprises, Ratnaveer Precision Engineering, Regency Fincorp, JHS Svendgaard Retail Ventures, RO Jewels, Sanathnagar Enterprises, Shish Industries, Surana Solar Limited, Trident Lifeline, Vanta Bioscience, Vimta Labs, and Vivid Mercantile.
Asian Paints
The largest paint manufacturer in India announced a 52% increase in consolidated net profit in Q1 FY24 compared to the previous year, totaling ₹1,574.84 crore. The company made ₹1,036.03 crore in net profit during the same quarter in FY23.
In comparison to the previous year, the company’s consolidated revenue from operations increased 6.6% to ₹9,182.31 crore during Q1FY24 from ₹8,606.94 crore.
From ₹1.566 crore in Q1 FY23 to ₹2,121.2 crore in the same period the previous year, the consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed by 28.1%. At ₹1,275 crore as opposed to ₹1,258.4 crore in Q4 FY23, the company reported a 1.3% increase in net profit in Q4 FY24.
Asian Paints announced a final dividend of ₹28.15 per equity share, as agreed by the board of directors. The paint producer issued an interim dividend of ₹5.15 per equity share in October 2023 for FY24, bringing the total payout for the preceding fiscal year to ₹33.30 per equity share.
According to Amit Syngle, CEO and Managing Director of Asian Paints, the paint company is still optimistic about growing demand in FY25 due to a favorable monsoon outlook.
