Asian Paints Ltd. announced its financial results for the third quarter of the financial year 2023. Asian Paints’ consolidated sales for third quarter financial year 2023 increased by 1.7% to ₹ 8,607.50 crores from ₹8,462.15 crores. Profit before depreciation, interest, tax and other income (PBDIT) for the group (before share of profit in associates) increased by 4.5% to ₹1,611.43 crores from ₹1,542.31 crores. Profit before exceptional items and tax increased by 6.1% to ₹1,478.20 crores from ₹1,393.72 crores. Net profit after minority interest increased by 5.6% to ₹1,072.67 crores from ₹ 1,015.69 crores.

“The industrial business did well led by strong growth in the Auto OE and General Industrial segments. The International Business was a mixed bag with good growth in the Middle East and Africa while the South Asia market, especially Sri Lanka and Bangladesh, got severely impacted by the adverse forex & macro-economic conditions,” said Amit Syngle, managing director and CEO of Asian Paints Ltd.

Asian Paints’ standalone sales results for third quarter financial year 2023 reported an increase of 0.9% to ₹7,492.22 crores from ₹7,424.08 crores. PBDIT for the quarter increased by 1.8% to ₹1,494.76 crores from ₹1,468.18 crores. Profit before tax increased by 5.5% to ₹1,442.98 crores from ₹1,367.42 crores. Net profit increased by 6.4% to ₹1,085.88 crores from ₹1,020.26 crores.

As for international business, sales increased by 2.1% in the third quarter of the financial year 2023 to ₹778.82 crores from ₹762.43 crores. In constant currency terms, sales increased by 13.4%. PBT was ₹36.96 crores as against ₹11.29 crores in the corresponding period of the previous year.

For more information, visit: https://www.asianpaints.com/.