New Delhi (Anish Yande): Asian Paints shares rose by 2 percent ahead of the firm posting a strong performance in the March 2021 quarter. Shares of the firm opened at Rs 2,577 per share on Thursday.
The shares of Asian Paints rose to an intraday high of Rs 2,588.95, rising 5% as compared to the previous close of Rs 2,556.25 on NSE. The market cap of the paint company has risen to Rs 2,45,190 crores.
Asian Paints net profit rose by 81 percent:
Asian Paints recorded a consolidated net profit of Rs 480.25 crore in the March quarter of FY20. The paint company's consolidated net profit rose to Rs 869.89 crore in the fourth quarter ended March 2021. The net profit rose at an increase of 81.13 percent YoY.
In the financial year 2020-21, the company reported a consolidated profit of Rs 3,207 crore, at an increase of 15 percent as compared to Rs 2,774.19 crore to the preceding year.
Earnings before interest, tax, depreciation, and amortization increased to Rs 1,318 crore during the quarter ended March 31, 2021, at an increase of 53 percent YoY. Ebitda margins of Asian Paints improved by 127 basis points to 19.8 percent.
Revenue from operations of Asian Paints rise by 43 percent:
The revenue from operations of the company rose to Rs 6,651.43 crore in the quarter ended March 2021, at an increase of 43.49 percent. Revenue from operations of Asian Paints was at Rs 4,635.59 crore in the corresponding period of the previous fiscal. In FY21, revenue grew 7 percent to Rs 21,713 crore in the quarter as compared to Rs 20,211.25 crore in 2019-20.
Asian Paints revenue from the paints business increased to Rs 6,467.20 crores in the March quarter of 2021. The revenue of the paints company for the paints segment was at Rs 4,532.88 crore in the January-March quarter of 2021, increasing to 42.67 percent.
The Home Improvement segment of Asian Paints posted a revenue of Rs 102.71 crore in the March quarter of the previous fiscal which increased to Rs 185.88 crore in Q4 FY21. Revenue of the segment increased by 80.98 percent YoY.
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