Asian Paints Q2 profit rises 21% to Rs. 576 crore
Asian Paints Ltd posted a 21% rise in second-quarter profit on Tuesday, beating estimates. Profit rose to Rs. 576 crore ($88.58 million) in the three months ended 30 September, from Rs. 476 crore a year earlier, the company said.
The revenue from ‘Paints’ segment dipped slightly from Rs 3565.07 crore in Q1 2017 to Rs 3560.43 crore in Q2 2017. Whereas, the revenue from ‘Home Improvement’ segment increased by 42%. Its revenue from home improvement segment was Rs 41.77 crore in Q2 2017.
The board of directors also approved a payment of interim dividend of Rs 2.65 per equity share of the face value of Rs 1 each.