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Asian Paints posts higher profits

Asian Paints Ltd. reported a 4.2% increase in profit after tax from continuing operations in the fiscal fourth quarter of 2018.

Profit after tax for the quarter came in at 4.96 billion Indian rupees, up from 4.76 billion rupees in the prior-year period.

Revenue from operations also increased to 44.92 billion rupees, up by 14.1% from last year's 39.37 billion rupees.

Profit before depreciation, interest and taxes, or PBDIT, for the quarter also improved to 8.79 billion rupees from 7.78 billion rupees.

For the full fiscal year 2018, profit after tax from continuing operations grew 1.9% to 20.28 billion rupees from 19.90 billion rupees in the previous fiscal year.

Revenues from operations rose by 11% to 168.44 billion rupees from 151.68 billion rupees.

PBDIT for fiscal year 2018 was 34.18 billion rupees from 32.49 billion rupees in the prior fiscal year.

The company also announced a final dividend of 6.05 rupees per share, up from 5.65 rupees per share in 2017. The total dividend for fiscal year 2018 was 8.70 rupees per share, with an interim dividend of 2.65 rupees per share.

As of May 11, US$1 was equivalent to 67.155 rupees.