Asian Paints Ltd posted on Monday a 14.4 percent fall in second-quarter profit, which missed analysts' estimates, hurt by higher expenses.
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.
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.
First Published: Oct 22, 2018 6:33 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!