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ASIAN PAINTS CONSOLIDATED INCOME FROM OPERATIONS UP BY 18.3%

July 24, 2014



ENP Newswire - 24 July 2014

Release date- 23072014 - Mumbai - Asian Paints today announced its financial results for the first quarter ended June 30, 2014.

'The Decorative business registered double digit growth during the quarter with good growth across geographies. The Automotive coatings JV (PPG-AP), saw good growth in the General Industrial segment and Refinish segments while the Automotive segment demand was subdued.

The Industrial Coatings JV (AP-PPG), which had seen a decline in the previous year, saw good volume growth in the Industrial Liquid Paints and Road Marking business. Performance of the International units were a mixed bag with units in Caribbean, UAE, Singapore and Bangladesh doing well. Operations in Egypt were affected due to weak business sentiment in the country.' said K.B.S. Anand, Managing Director & CEO, Asian Paints Limited.

'The Sleek business performed well during the quarter with new dealer openings in certain geographies. During the quarter, Asian Paints has acquired the front end sales business (including brands, network and sales infrastructure) of Ess Ess Bathroom Products Pvt Ltd, a prominent player in the bath and wash segment in India' he added.

Consolidated Results: Q1-FY'2015: For the quarter ended June 30, 2014, on consolidation of accounts of the subsidiaries and joint ventures of Asian Paints - Income from Operations increased by 18.3 % to '3,362.2 crores from '2,841.1 crores. PBDIT (before exceptional item) for the quarter increased by 19.8 % to '556.5 crores as compared to '464.7 crores of the previous year. Net Profit after Minority Interest for the quarter increased by 23.1 % to '338.7 crores from '275.2 crores.

About Asian Paints Limited

Asian Paints is India's largest paint company and ranked among the top ten Decorative coatings companies in the world with a consolidated turnover of '12,714.8 crores. Asian Paints along with its subsidiaries have operations in 17 countries across the world with 23 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints - Egypt, Asian Paints, Apco Coatings and Taubmans.

Contact:

Arun Nair

Asian Paints Limited

Tel: + 91-22-39818387

Email: proffice@asianpaints.com


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Source: ENP Newswire


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