Asian Paints Q4 Results: The net profit increased by 1.3% to ₹1,275 crore, although revenue decreased somewhat, and a dividend was declared.
Asian Paints reported a 1.3% increase in net profit to ₹1,275 crore in the January-March quarter of fiscal 2023-24 (Q4FY24), up from ₹1,258.4 crore the previous year.
In the fourth quarter of FY24, revenue from operations decreased by 0.6% to ₹8,730.8 crore, compared to ₹8,787.3 crore the previous year.
Asian Paints’ shares fell 4.59% to ₹2,713.70 on the BSE.
Asian Paints shares plummeted to a new 52-week low after the company announced a modest increase in net earnings for the quarter ending March 2024. Net profit increased to Rs 1275.30 crore in the last quarter, up from Rs 1258.41 crore in March 2023. Earnings per share increased to Rs 13.11 in Q4 from Rs 12.87 in Q4 of FY23.
On a yearly basis, income from operations increased to Rs 35,494 crore in FY24 from Rs 34,488 crore in FY23.
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- Net profit increased to Rs 5557.69 crore in the last fiscal year, up from Rs 4195.33 crore in FY23.
- The Board of Directors approved the suggestion for a final dividend of Rs 28.15 per equity share of the face value of Rs 1 each.
- The business set Tuesday, June 11, 2024, as the record date for calculating members’ entitlement to the final dividend for the fiscal year ending March 31, 2024. The dividend, if accepted by shareholders, will be paid on or after Thursday, June 27, 2024.
- Asian Paints’ stock decreased 3.10% to Rs 2756 on the BSE during the current session. The stock also fell to a new 52-week low of Rs 2722.30 on Q4 earnings. A total of 1.40 lakh shares of Asian Paints changed hands, resulting in a turnover of Rs 39.12 crore. Asian Paints’ market capitalization stood at Rs 2.64 lakh crore. Asian Paints’ shares have a one-year beta of 0.2, showing relatively low volatility throughout the time.
