HomeEarnings NewsAsian Paints second-quarter profit falls about 14%, misses estimates

Asian Paints second-quarter profit falls about 14%, misses estimates

Net profit fell to Rs 493 crore ($67.02 million) in September quarter from Rs 576 crore a year earlier.

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By Reuters October 23, 2018, 7:53:15 AM IST (Updated)

Asian Paints second-quarter profit falls about 14%, misses estimates
Asian Paints Ltd posted on Monday a 14.4 percent fall in second-quarter profit, which missed analysts' estimates, hurt by higher expenses.


Net profit fell to 4.93 billion rupees ($67.02 million) in the September-quarter from 5.76 billion rupees a year earlier, the company said in a statement.

Analysts, on an average, had expected the Mumbai-based company to post a profit of 5.78 billion rupees, according to Refinitiv Eikon data.

Revenue from operations rose over 8.5 percent to 46.39 billion rupees while total expenses rose about 11 percent in the quarter.
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