Shares of Asian Paints Ltd are down around 8% after the second quarter results of FY 2024-25. The company's net profit fell by 42% year-on-year in the July-September quarter. The consolidated net profit for the quarter was Rs. 694.64 crores.
In the same quarter a year ago, the company posted Rs. 1,205.42 crores profit was made. Also, the company's sales revenue declined by 5.3% in Q2FY25. In this quarter it was Rs. 8,003 crore remained. In the same quarter a year ago, the company posted Rs. 8,452 crores in revenue. Asian Paints announced results for the second quarter of fiscal 2025 on Saturday, November 9.
The company will pay a dividend of ₹4.25 per share
In addition to the results, the board of Asian Paints has distributed to shareholders Rs. Also approved an interim dividend of 4.25. Companies give a portion of profits to their shareholders, called dividends.
Net profit fell 40% quarter-on-quarter
On a quarterly basis i.e. compared to April-June, the net profit of the company has decreased by 40.68% in July-September. In the first quarter of the financial year 2024-25, the company has Rs. 1,170 crore net profit was made.
Shares of Asian Paints have fallen 24.86% so far this year Currently, shares of Asian Paints are down 7.92% at Rs. is trading at 2,550. The stock has given negative returns of 11.44% in last 6 months and 17.36% in 1 year. Also, the stock is down 24.86% so far this year.
At 11 am, shares of Asian Paints fell 7.92% to Rs. was trading at 2,550.
Asian Paints does business in more than 60 countries
Asian Paints was started in 1942. It was started by 4 friends in partnership. It has a major share in the Indian paint market since 1968. Currently Asian Paints operates in 15 countries. It has 27 paint manufacturing facilities worldwide, serving customers in more than 60 countries.
It is PPG Inc. of America. operates in a 50:50 joint venture with one of the world's largest automotive coatings manufacturing companies. Asian Paints Group consists of several companies. These include Asian Paints Berger, Epco Coatings, SCIB Paints, Taubmans, Asian Paints Causeway and Cadisco Asian Paints providing services worldwide.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
