Asian Paints Ltd. has reported a rise in net profit for the third quarter, surpassing analysts' estimates.
The paintmaker reported a 34.5% increase in consolidated net profit at Rs 1,968 crore, as against Rs 1,353 crore for the corresponding period last year, according to its exchange filing issued on Wednesday.
Asian Paints Q3 FY24 Highlights
Revenue up 5.4% at Rs 9,075 crore (Bloomberg estimate: Rs 9,391 crore).
Ebitda up 27.6% at Rs 2,028 crore (Bloomberg estimate: Rs 1,977 crore).
Margin at 22.6% (Bloomberg estimate: 21.1%).
PAT rose 34.5% to Rs 1,968 crore (Bloomberg estimate: Rs 1,353 crore).
Brownfield expansions at Khandala and Kasna have been completed, it said in the press note.
The Khandala installed capacity has been raised from 3,00,000 KL p.a. to 4,00,000 KL p.a., while the Kansa installed capacity has been raised from 80,000 KL p.a. to 1,00,000 KL p.a.
Asian Paints shares fell as much as 1.5%, as against a 2.13% decline in the benchmark Nifty.
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