Asian Paints Q3: Sluggish Volume Growth, Profit Misses Estimates

Asian Paints on January 19 reported a 6.37 percent growth in consolidated net profit for the quarter ending December 2022 at Rs 1,097.06 crore. The company had reported a profit of Rs 1,031.29 crore in the same quarter of the previous fiscal year. Consolidated revenue from operations came in at Rs 8,636.74 crore, up 1.28 percent from Rs 8,527.24 crore in the year-ago quarter. "The extended monsoon in October also affected retailing in the peak festival season, but demand picked up in November and December leading to a double-digit growth for the Decorative Business in December", said Amit Syngle, Managing Director & CEO of Asian Paints in conversation with Sakshi Batra, Associate Editor, Business Today while discussing the overall earnings fineprint.