Asian Paints shares climb over 3% after Q4 earnings; mcap up Rs 9,395 cr

New Delhi: Shares of Asian Paints Ltd on Thursday climbed more than 3 per cent after the firm reported an increase of 43.97 per cent in its consolidated net profit in the March quarter.

The company's stock gained 3.22 per cent to settle at Rs 3,138.60 apiece on the BSE. During the day, it rallied 3.76 per cent to Rs 3,155.

Asian Paints was the biggest gainer among the 30-share BSE Sensex firms.

At the NSE, it surged 3.34 per cent to finish at Rs 3,143 per share.

The company's market valuation jumped from Rs 9,395.35 crore to Rs 3,01,053.82 crore.

Asian Paints Ltd on Thursday reported an increase of 43.97 per cent in its consolidated net profit at Rs 1,258.41 crore in the March quarter, led by a double-digit volume and value growth in the decorative business.

The company had posted a net profit of Rs 874.05 crore during the January-March quarter of FY22, Asian Paints said in a regulatory filing.

Its revenue from sales rose 10.91 per cent to Rs 8,750.85 crore during the quarter under review as against Rs 7,889.94 crore in the year-ago period.

Asian Paints' total expenses were at Rs 7,181.66 crore, up 7.55 per cent, in Q4FY23 as against Rs 6,677.11 crore in the corresponding period a year ago.

Its total income in the March quarter was at Rs 8,892.82 crore, up 11.53 per cent.

"In this quarter we have logged in the highest value ever, with the decorative and non-automotive industrial businesses registering double-digit volume and value growths," Asian Paints Managing Director & CEO Amit Syngle said.