Asian Paints Q3 Results: ₹1,110.48 crore in net profit, a 23.3% YoY decline

Asian Paints Q3 Results: Asian Paints said on Tuesday that its consolidated net profit (attributable to the company's shareholders) for the fiscal third quarter ended December (Q3FY25) had decreased by 23.3% year over year to ₹1,110.48 crore. In the same quarter last year, the company reported a profit of ₹1,447.72 crore. The combined net profit increased by 60% sequentially. Asian Paints' stock was up 2.37% at ₹2,348 per share on the BSE at 14:22 IST.

Asian Paints' consolidated sales revenue for the quarter ending in December (Q3FY25) was ₹8,521.51 crores, down 6.1% from Q3FY24's ₹9,074.9 4 crore. Revenue increased by 6.5 percent sequentially.

The company stated in its statement with the exchange that PBDIT (profit before depreciation, interest, tax, other income, and exceptional items) (apart from associates' share of profit) decreased by 20.4% to ₹1,636.7 crores from ₹2,056.1 crores. During the same period last year, the PBDIT margin as a proportion of net sales dropped from 22.7% to 19.2%.

Asian Paints' managing director and CEO, Amit Syngle, stated that the paint business continued to encounter difficulties throughout the quarter as a result of low demand, especially in cities.

India's coatings industry as a whole, including industrial industries, had a 6.6% drop. Due to weak demand during the quarter, standalone revenues fell by 7.5%, while the domestic decorative sector had a 1.6% increase in volume.

Even while operating margins improved sequentially, a poor product mix, increased sales, and increased distribution expenses hurt operating margins as compared to the prior year.

Thanks to improvements in the General Industrial and Refinish divisions, the Industrial Business did well, with revenues rising by 3.8%. As they continued to work on expanding their network, the company continued to see growth in their home décor business.

Internationally, the portfolio grew by 5% (17.1% in constant currency), driven by improvements in macroeconomic conditions in major Asian nations and expansion in the Middle East.

"As we continue to invest in our brand and concentrate on innovation and customer centricity, we remain cautiously optimistic on a recovery in demand conditions in the near term," Amit Syngle continued.