Khushi Sikarwar
During the September quarter, sales income decreased 5.3% to Rs 8,003.02 crore, compared to Rs 8,451.93 crore during the same period in the previous fiscal year (FY24).
New Delhi: 11th November 2024
The July–September period of the fiscal year 2024–25 (FY25) saw a sharp decline in Asian Paints’ financial results. The company reports that its net profit for the second quarter was Rs 694.64 crore, down 42.4% from Rs 1,205.42 crore during the same period last year.
Sales income for the September quarter was Rs 8,003.02 crore, a 5.3% decrease from the Rs 8,451.93 crore recorded in the same quarter of the previous fiscal year (2023–24) (FY24).
The consolidated PBDIT, excluding associate profit, fell 27.8% to Rs 1,239.5 crore in the examined quarter, compared to Rs 1,716.2 crore in the July-September quarter of the previous year.
Amit Syngle, Managing Director and CEO, elaborated on the findings, stating that poor weather and low consumer demand are two key elements affecting the company’s profitability. A weak demand environment persisted in the paint industry over the quarter. Muted consumer feelings and prolonged rains and floods in some regions of the country contributed to a 5.5% quarterly fall in domestic coatings revenue, while volumes of the decorative coatings market fell somewhat
The CEO clarified that last year’s pricing reductions had an effect on operational margins in addition to raising input and selling costs. He pointed out that the margins in the second half of the current fiscal year could benefit from the recent price rises.
“Q2 profitability was impacted by weak demand, changes in product mix, and higher material prices. Due to price increases that have been put in place in recent months and the expected lowering of material prices, we think that margins will rebound in the upcoming quarters,” Syngle said.
NI Bureau
