MUMBAI - Asian Paints, India's leading paint company, has reported a substantial increase in net profit for the December quarter, with the consolidated net profit surging to Rs 1,475.16 crore from the previous year's Q3 of Rs 1,097.06 crore. This growth is largely due to decreased raw material expenses and an advantageous festive season schedule, which have collectively propelled sales volumes upward.
The company saw an impressive 7% uptick in sales, buoyed by a notable 9% surge in domestic decorative paints volumes. This increase is largely driven by robust demand for waterproofing products and items within the economy range. The strategic decision by Asian Paints to reduce prices in November has played a significant role in stimulating market expansion.
Furthermore, the company has reported Ebitda margins that not only meet but exceed their previous forecasts of 18-20%. The Quarter EBITDA rose significantly to Rs 2,056 crore with an improved margin of 22.6%, despite the firm's significant investment in advertising and promotional activities.
The December quarter also saw revenue growth of Asian Paints to Rs 9,104 crore over last year's same quarter figure of Rs 8,636.7 crore. These detailed financial results provide insights into the company's profitability and the effectiveness of its strategic initiatives during a key sales period.
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