Asian Paints Ltd. today announced their financial results for the quarter and Nine months ended Dec. 31, 2017.

“The Decorative paint business in India registered single digit volume growth in the current quarter. The Automotive coatings JV (PPG-AP), witnessed good growth in the Auto OEM, Auto Refinish and General Industrial business segment; whereas good growth in the powder coatings segment led to decent performance of the Industrial Coatings JV (AP-PPG),” said K.B.S. Anand, managing director & CEO, Asian Paints Limited.

“In the international markets, units in Bangladesh, Oman, Bahrain and Nepal witnessed good growth. However, the international group performance was impacted by adverse exchange rate fluctuations in some key markets. Both the segments within the Home Improvement business – the Kitchen business under Sleek and the Bath business under Ess Ess, registered good growth rates in the quarter.”

Consequent to the introduction of Goods and Services Tax (GST) with effect from 1st July, 2017, Central Excise, Value Added Tax (VAT) etc. have been subsumed into GST. In accordance with Indian Accounting Standard – 18 on Revenue and Schedule III of the Companies Act, 2013, unlike Excise Duties, levies like GST, VAT etc. are not part of Revenue. The figures and growth percentages given herein have been suitably adjusted to make the revenue from operations for periods up to June 30, 2017 comparable.

The Consolidated results for the current year include the results of Causeway Paints Lanka (Private) Limited, Sri Lanka, in which Asian Paints International Private Limited, Singapore (formerly known as Berger International Private Limited), subsidiary of the Company, acquired 100 percent controlling stake on April 3,2017 and hence the results are not comparable with the previous periods.

Asian Paints Consolidated Results, Q3-FY’18:
For the quarter ended Dec. 31, 2017, on consolidation of accounts of the subsidiaries and associates of Asian Paints – revenue from operations has increased by 10.9 percent to ₹ 4,267.49 crores from ₹ 3,846.53 crores. Profit before depreciation interest and tax (PBDIT) for the group increased by 17.7 percent to ₹ 891.18 crores from ₹ 757.02 crores. Profit before Tax (PBT) increased by 19.7 percent to ₹ 858.55 crores from ₹ 717.45 crores. Net Profit after non-controlling interest (from continuing operations) increased by 21.6 percent to ₹ 554.64 crores as compared to ₹ 456.18 crores in the previous corresponding period.

Asian Paints Consolidated Results, 9M-FY’18:
For the Nine months ended Dec. 31, 2017, Asian Paints Group revenue from operations has increased by 10 percent to ₹ 12,351.46 crores from ₹ 11,231.46 crores. Profit before depreciation interest and tax (PBDIT) for the group has increased by 3.5 percent to ₹ 2,357.68 crores from ₹ 2,278.59 crores. Profit Before Tax (PBT) increased by 2.2 percent to ₹ 2,284.87 crores from ₹ 2,236.60 crores. Net Profit after non-controlling interest (from continuing operations) increased by 1.9 percent to ₹ 1,488.24 crores as compared to ₹1,460.69 crores in the previous corresponding period.

Asian Paints Standalone Results, Q3-FY’18:
For the quarter ended Dec. 31, 2017, revenue from operations increased by 11.3 percent to ₹ 3,587.43 crores from ₹ 3,222.32 crores. PBDIT for the quarter increased by 21.9 percent to ₹ 818.10 crores from ₹ 670.93 crores. Net Profit increased by 24.2 percent to ₹ 528.97 crores as compared to ₹ 425.83 crores in the previous corresponding period.

Asian Paints Standalone Results, 9M-FY’18:
For the nine-month period ended Dec. 31, 2017, revenue from operations increased by 10.6 percent to ₹ 10,378.36 crores from ₹ 9,382.10 crores. PBDIT for the period increased by 5.1 percent to ₹ 2,135.27 crores from ₹ 2,032.31 crores. Net Profit on a standalone basis increased by 3 percent to ₹ 1,403.37 crores as compared to ₹ 1,362.28 crores in the previous corresponding period.