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( As on 17/07/2024 17:10)

Asian Paints Q1 net profit down 20.95% at Rs 1192.40 cr

The company reported standalone net profit of Rs 1,192.40 crore for the quarter ended June 30, 2024 as compared to Rs 1508.37 crore in the same period last year, registering a year-on-year decline of 20.95 per cent.

Net revenue of the company declined marginally by 2.51 per cent at Rs 7,881.62 crore in April-June quarter of this fiscal as against Rs 8,084.87 crore in the corresponding period last year.

During April-June quarter, operating expenses increased by 2.85 per cent to Rs 6,288.60 crore from Rs 6,114.20 crore in year ago period.

Other Income grew by 4.05 per cent at Rs 225.55 crore versus (Jun'23 Rs 216.77 crore).

Operating Profit slipped by 20.34 per cent to Rs 1,593.02 crore as against Rs 1,999.76 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 18.28 per cent in June quarter.

Interest grew by 15.75 per cent y-o-y to Rs 30.43 crore, while Taxation decreased by 21.53 per cent at Rs 400.03 crore (Jun'23 Rs 509.78 crore).