Asian Paints Q2 Results: Asian Paints announced its financial results for the September quarter (Q2FY25) on Saturday, revealing a sharp 42.4% year-on-year decline in consolidated net profit, which stood at Rs 694.64 crore. This compares to a profit of Rs 1,205.42 crore during the same period last year. The company’s revenue from sales also dropped by 5.3% year-on-year, falling to Rs 8,003.02 crore from Rs 8,451.93 crore in Q2FY24.
Asian Paints CEO and Managing Director explained that during the quarter, the paint industry experienced weak demand. The volumes in the Domestic Decorative Coatings segment saw a slight decline, and overall revenue from domestic coatings dropped by 5.5%. This decline was attributed to sluggish consumer sentiment as well as the impact of extended rains and floods in certain regions of the country.
Asian Paints reported a 27.8% drop in its consolidated PBDIT (Profit Before Depreciation, Interest, and Tax), which fell to Rs 1,239.5 crore from Rs 1,716.2 crore last year. The PBDIT margin, which is the profit as a percentage of sales, decreased to 15.5% from 20.3% in the same period last year.
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The company’s CEO, Amit Syngle, said that the operating margins were affected by price cuts implemented last year, along with higher input costs and increased selling expenses. However, he pointed out that recent price hikes should help improve margins in the second half of the financial year.
He also remains hopeful about a recovery in margins over the next few quarters, as he expects lower raw material costs, along with the recent price increases, to have a positive impact. Despite the ongoing challenges in demand, Asian Paints continues to focus on leveraging its strong brand and extensive distribution network to drive growth.
From: financialexpress
Financial News
