Asian Paints Q4 net profit down 1.7% to Rs 487.45 cr

Asian Paints Thursday reported a 1.7 per cent decline in consolidated net profit to Rs 487.45 crore for the quarter ended on March 31, 2019. The company posted a net profit of Rs 495.91 crore in the year-ago period, Asian Paints said in a filing to BSE. However, total income during the period under review increased 11.99 per cent to Rs 5,075.08 crore as against Rs 4,531.52 crore in January-March 2018.

Total expenses rose 15.65 per cent to Rs 4,340.64 crore in the quarter as against Rs 3,752.94 crore in the year-ago period. Revenue from the paints segment was Rs 4,899.09 crore and Rs 119.12 crore from the home improvements segment.

The company posted a net profit of Rs 2,211.91 crore for 2018-19 as compared with Rs 2,097.52 crore for 2017-18. Total income for the previous financial year was Rs 19,576.89 crore as against Rs 17,482.85 crore in 2017-18. In a separate filing on Thursday, the company said that its board has approved a final dividend of Rs 7.65 per equity share of the face value of Re 1 each for 2018-19.

"An interim dividend of Rs 2.85 per equity share was distributed in financial year 2018-19. Thus, the total dividend announced for 2018-19 will be Rs 10.50 per equity share," the company said. Shares of Asian Paints closed at Rs 1,355.80, down 2.29 per cent from the previous close.