Asian Paints beats Q1 profit view on strong demand, reduced costs
Asian Paints, the Indian paint manufacturer beat market expectations with a consolidated net profit of INR 15.50bn ($189.5m) for Q1 2019, up 52% YoY, boosted by strong demand for decorative paints and lower raw material costs. While revenue was up by nearly 7%, costs for materials consumed fell by 12% thanks to easing crude oil prices.
Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.
