Asian Paints on Tuesday posted 30.56 per cent rise in consolidated profit at Rs 558.02 crore for the quarter ended June 2018.
It has posted a net profit of Rs 427.41 crore in the corresponding quarter last year.ETNow poll had predicted a net profit of Rs 521 crore.Consolidated revenue from operations increased to Rs 4,398.59 crore in Q1FY19 over Rs 4,228.26 crore in Q1FY18.
Decorative paint business of the company registered double-digit volume growth.Ebitda on a consolidated basis jumped to Rs 874.40 crore during the quarter under review as against Rs 665.40 crore in the same quarter last year.
The figure beat ETNow poll estimates of Rs 830 crore.Net profit on a standalone basis increased 35.40 per cent YoY to Rs 542.63 crore from Rs 400.86 crore during the same period.The company said that it is taking steps to pass on the benefit of GST rate reduction.