Asian Paints Q3 results: Net profit drops 5.2% to ₹1,045.6 crore
The Hindu
asian paints q3 net profit drops 5.2%
Asian Paints’ third quarter consolidated profit attributable to owners dropped 5.2% to ₹1,045.6 crore on a decline in revenue from operations as against the same quarter last fiscal. In the third quarter of the previous fiscal, the company reported a Profit After Tax (PAT) of ₹1,103.5 crore.
The revenue from operation increased 3.85% to ₹8,819.72 crore in the reporting quarter as against ₹8,521.51 crore in the year ago period.
The drop in profit despite an increasing revenue is attributable to exceptional expenses. The implementation of the New Labour Codes has incurred the company a one-time expense of ₹74.5 crore on increase in gratuity and compensation on paid leaves. Further the company also incurred an impairment loss of ₹93.87 crore in ‘intangibles’, on the acquisition of recognised on acquisition of Obgenix Software Private Limited (’White Teak’).
“We had a third consecutive quarter of good volume growth with our India Decorative Business delivering a robust 7.9% volume growth in the quarter. The overall coatings business registered a 4.4% revenue growth for the quarter with decorative business revenue growth of 2.8%,” said Amit Syngle, managing director & CEO of Asian Paints Limited in a statement.
The India-EU FTA is set to make luxury European cars cheaper in India through phased duty reductions and import concessions.
European wines will become more affordable in India as import duties drop from 150% to 20% under the new FTA.
India and the EU finalize a landmark free trade agreement, enhancing trade ties and impacting 1.9 billion people globally.
Embraer and Adani partner to create India's first commercial aircraft assembly line, boosting local manufacturing and aerospace capabilities.
Nationwide banking operations are disrupted as unions strike for a five-day work week after failed negotiations.
All-party meeting in New Delhi focuses on ensuring smooth Parliament Budget session ahead of President's address and Union Budget presentation.
Nvidia has invested $2 billion in CoreWeave, becoming the AI infrastructure provider’s second-largest shareholder
Microsoft on Monday unveiled the second generation of its in-house artificial intelligence chip, along with software tools that take aim at one of Nvidia’s biggest competitive advantages with developers.
Rupee recovers 10 paise to 91.80 against the dollar amid broad dollar weakness and ongoing geopolitical uncertainties.
India-EU Summit LIVE: Follow The Hindu's live updates as India and the European Union sign the historic deal at the India-EU Summit on January 27, 2026.
Anta Sports acquires a 29.1% stake in Puma for $1.8 billion, becoming the largest shareholder amid sales struggles.
India and the EU finalise FTA negotiations, set for announcement on February 27, aiming to enhance trade and economic integration.
Renault India, a wholly owned subsidiary of French automaker Renault Group, on Monday unveiled new Renault Duster and opened it’s pre-booking. Deliveries will commence from mid March and the prices will be announced at that time.