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Asian Paints fiscal Q3 profit climbs 38.4% YOY

Asian Paints Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 4.81 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.80 rupees per share.

EPS increased 38.4% year over year from 3.47 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.61 billion rupees, a gain of 38.4% from 3.33 billion rupees in the year-earlier period.

The normalized profit margin climbed to 11.2% from 9.2% in the year-earlier period.

Total revenue grew 13.9% on an annual basis to 41.03 billion rupees from 36.03 billion rupees, and total operating expenses grew 9.3% year over year to 33.75 billion rupees from 30.87 billion rupees.

Reported net income grew 25.8% from the prior-year period to 4.63 billion rupees, or 4.83 rupees per share, from 3.68 billion rupees, or 3.84 rupees per share.

As of Jan. 18, US$1 was equivalent to 67.68 Indian rupees.