Asian Paints, a leading paint manufacturer, has reported a significant decline in its consolidated net profit for the third quarter ending December 2024. The company’s net profit dropped by 23.5% to Rs 1,128.43 crore, compared to Rs 1,475.16 crore in the same period last year. The decline is attributed to muted demand and a weak festive season, which affected the company’s revenue from operations. Revenue from operations decreased by 6% to Rs 8,549.44 crore, mainly due to downtrading and subdued festive demand.
Total expenses reduced by 1.33% year-on-year to Rs 7,224.10 crore, but operating margins suffered due to an adverse mix and increased sales expenses. Despite these challenges, the company’s international business saw a 5% increase in sales, driven by better conditions in markets like Sri Lanka and Bangladesh, although currency issues in Ethiopia and Egypt offset some of this growth.
Despite the current challenges, Asian Paints maintains a cautiously optimistic outlook, focusing on brand and innovation to drive growth. The company’s CEO, Amit Syngle, highlighted the need to adapt to changing market conditions and customer preferences. The company’s strategy is to focus on its core business, invest in innovation, and expand its presence in new markets.
Asian Paints has been a leading player in the paint industry for many years, known for its high-quality products and innovative solutions. The company has a strong presence in India and other emerging markets, and has been expanding its operations in recent years. Despite the current challenges, the company remains committed to its long-term growth strategy and is well-positioned to benefit from the recovery in the paint industry.