Asian Paints released its quarter results on 17 July 2024. The company is India’s largest paint manufacturing company. The results showed a downfall of 25% in net profits. At the same time, the revenue fell by 2%. The company’s first quarter had a fall because of the no-wedding season. Apart from that, heatwaves and elections also play a crucial role in reduction. Following are more details about Asian Paints Q1 results.
Asian Paints Q1 Results FY25
Asian Paints quarter results are out now. The company had a fall in the revenue and net profits. The profits fell by 24.54% in the first quarter YoY. The company made a net profit of Rs. 1,169.98 Crores. At the same time, it was Rs. 1,550.37 Crores the previous year. Apart from that, revenue fell by 2.32%. The company had a revenue from operations of Rs. 8,969.73 Crores in Q1 25. It was Rs. 9,182.31 Crores in the previous year.
The paint industry has been impacted by the heatwaves. The demand in the industry saw a sudden downfall. People were not preferring any repair or construction in the hot weather. The monsoon season arrived now. The company had a CC of 1.8%. Asian Paints has performed well in terms of quarterly basis. Its revenue from operations increased from Rs. 8,730.76 Crores to Rs. 8,969.7 crores. It is a QoQ increase of 2%.
The predictions were also about a flat revenue. However, the company performed below the expert’s predictions. The price cut and elections impacted its performance. Apart from earnings, the revenue also fell. The company had expenses of Rs. 7,305.09 crores in the previous year. It now increased to Rs. 7,559.04 Crores. Apart from that, the quarterly increase was from Rs. 7,319.10 Crores to Rs. 7,559.04 Crores.
There is a QoQ fall of almost 8% in the net profit. No one expected such a high fall in the net profits on a yearly basis which is 25%. The market expected a weak result but the company performed below the expectations. Asian Paints expects the upcoming quarter to perform better than the current quarter. The monsoon has arrived. People will now look for more paint-related activities.
Asian Paints has a share price of Rs. 2,974.45. It is up by 17.95 points or 0.61%. The company’s share opened at Rs. 2,959 per share. While it closed at Rs. 2,968 per share. The P/E ratio is 52.23. It has an average market cap of 2.85 Thousand. Its 52-week high has been Rs. 3,568. While its 52-week low is Rs. 2,670.10. Asian Paints is expecting a comeback as it has also increased its prices back to normal. Stay tuned for more information.