Asian Paints' PAT rises 20% at Rs780cr in Q3FY20

Asian Paints' PAT rises 20% at Rs780cr in Q3FY20

Asian Paints Ltd registered higher net profit at Rs764cr, up by 20% yoy in the third quarter ended December 31, 2019 as against Rs636cr during the quarter ended December 31, 2018.

The company’s revenue rose 3% to Rs5,420cr in Q3FY20 vs. Rs5,263cr Q3FY19.

EBITDA for Q3FY20 came in at Rs1,189.4cr vs. Rs1,104.4cr in Q3FY19, up 7.7% yoy. Margins stood ar 21.9% vs. 21% in the corresponding quarter previous year, higher by 90bps yoy.

“The decorative business segment in India registered a low double-digit volume growth, impacted by the slowdown in the overall economy. Automotive coatings JV (PPG-AP) business continued to be impacted by the downturn in the automobile industry while the Industrial Coatings JV (AP-PPG) business saw some demand pick-up in the Protective Coatings segment. Benign raw material prices benefited the entire coatings business. International operations performance was impacted by challenging business conditions in some key units in GCC and Sri Lanka. Both the segments in the Home Improvement category viz. the Kitchen (Sleek) and Bath (Ess Ess) business, continue to be impacted by the slowdown in the real estate construction space” said K.B.S. Anand, Managing Director & CEO, Asian Paints Limited.

Stock view:
Asian Paints Ltd is currently trading at Rs1,791.90, down by Rs18.35 or 1.01% from its previous closing of Rs1,810.25 on the BSE.

The scrip opened at Rs1,818 and has touched a high and low of Rs1,818 and Rs1,774.75 respectively




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