Asian Paints Q2FY24 earnings: Net profit up 53.28%; company announces interim dividend
Asian Paints released its Q2 FY24 numbers, with a 53.28% YoY surge in its consolidated net profit at ₹1,232.39 crore. During the same period last year, the company had reported a net profit of ₹804 crore. Seen sequentially, the net profit dropped 21.77%.
The consolidated revenue from operations came in flat at ₹8,478 crore in Q2FY24 as compared to ₹8,457.57 crore reported in the corresponding quarter of last year. In the preceding June quarter, the company posted revenue of ₹9,182 crore. According to the earnings report, the company reported a rise in employee costs of 16.28% YoY to ₹596.11 crore, while finance costs also jumped 43.78% YoY to ₹50.90 crore in Q2 FY24.
The Board of Directors approved the payment of an interim dividend of Rs. 5.15 per equity share of the face value of Rs. 1 each for the financial year ending March 31, 2024.
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