
Asian Paints Q3FY25 profit drops 23.3% YoY to Rs 1,110 cr; revenue declines 6.1%
Mumbai: Asian Paints on Tuesday posted a 23.3% year-on-year (YoY) decline in its consolidated net profit (attributable to owners) for the third quarter of FY25, ending in December, at Rs 1,110.48 crore, media reports said.
This was down from Rs 1,447.72 crore in the same period last year. However, on a sequential basis, net profit rose 60%, according to a Mint report
As of 14:22 IST, shares of Asian Paints were trading 2.37% higher at Rs 2,348 apiece on the BSE, the report said.
The company's consolidated revenue from sales stood at Rs 8,521.51 crore in Q3FY25, marking a 6.1% YoY decline from Rs 9,074.94 crore in Q3FY24. Sequentially, revenue saw a 6.5% increase.
In its exchange filing, the company reported that Profit Before Depreciation, Interest, Tax, Other Income, and Exceptional Items (PBDIT)—excluding profits from associates—dropped 20.4% to Rs 1,636.7 crore, compared to Rs 2,056.1 crore in the same quarter last year. The PBDIT margin as a percentage of net sales also fell to 19.2% from 22.7%, according to the report.
Challenges in the paint industry
Asian Paints MD & CEO Amit Syngle noted that the industry continued to grapple with subdued demand, particularly in urban markets, Mint reported.
The overall coatings business in India, including industrial segments, declined by 6.6%. While the domestic decorative segment registered a 1.6% volume growth, standalone revenues fell 7.5% in the quarter, impacted by muted festive season demand.
Despite an improvement in operating margins sequentially, rising sales and distribution costs, along with an unfavourable product mix, weighed on margins compared to last year.
Segment-wise performance
Industrial Business: Revenues grew 3.8%, driven by General Industrial and Refinish segments.
Home Décor Business: Continued to expand through network growth efforts.
International Business: Grew 5% YoY (17.1% in constant currency) as Middle East expansion and improving macroeconomic conditions in key Asian markets supported growth.
"In the near term, we remain cautiously optimistic about demand recovery while continuing to invest in our brand, innovation, and customer-centric initiatives," said Syngle was quoted as saying by Mint.
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