Asian Paints reports significant 42.4% year-on-year drop in net profit
Net profit after minority interest declined to Rs 694.60 crores in Jul-Sep from Rs 1,205.40 crores during the corresponding period a year ago. Consolidated net sales decreased by 5.3% to Rs 8,003.0 crores from Rs 8,451.9 crores.
“Domestic decorative coatings segment volumes declined marginally while overall domestic coatings revenue declined by 5.5% for the quarter impacted by muted consumer sentiments and extended rains and floods in some parts of the country,” said Amit Syngle, Managing Director & CEO of Asian Paints.
He attributed a drop in operating margins to price reductions taken last year, higher material prices and increased sales expenses.
“While we took price increases during the quarter, the full impact of the same should flow through only in the second half of the year,” Syngle added.
Finance
AI and Generative AI for Finance
By — Hariom Tatsat, Vice President- Quantitative Analytics at Barclays
Web Development
A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
AI and Analytics based Business Strategy
By — Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI
Office Productivity
Zero to Hero in Microsoft Excel: Complete Excel guide 2024
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of Generative AI:
