Asian Paints : Q1FY18 Result

Asian Paints reported its results for the quarter ended June 30, 2017 on Tuesday.

The company's total sales for Q1FY18 came in at Rs 4228.3 crore, which represents a 3.3 per cent sequential decline and 4.9 per cent YoY increase.

Its operating profit (EBIT) for the quarter amounted to Rs 574.8 crore and its EBIT margin stood at 13.6 per cent.

The company reported PAT of Rs. 440.7 crore, which represents a sequential QoQ decline of 8.1 per cent and a YoY decline of 20.2 per cent.

The decorative business in India registered low single digit growth in Q1FY18 with the business getting impacted especially in June 2017 due to GST roll-out. During Q1FY18, the company has witnessed an upward trend in material prices, thereby squeezing margins.

Asian Paints is India’s leading paint company that is ranked among the top ten decorative coating companies in the world. It has operations in 19 countries across the world with 27 manufacturing facilities.

The company's stock today opened at Rs 1161 and touched an intra-day low of Rs 1140.25 on the BSE.