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Asian Paints fiscal Q1 profit climbs 19.1% YOY

Asian Paints Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 5.12 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 5.38 rupees per share.

EPS increased 19.0% year over year from 4.30 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.91 billion rupees, a gain of 19.1% from 4.12 billion rupees in the year-earlier period.

The normalized profit margin rose to 13.7% from 11.5% in the year-earlier period.

Total revenue came to 35.90 billion rupees, compared with 35.78 billion rupees in the prior-year period, and total operating expenses decreased from the prior-year period to 28.55 billion rupees from 29.64 billion rupees.

Reported net income rose 17.5% year over year to 5.35 billion rupees, or 5.58 rupees per share, from 4.55 billion rupees, or 4.75 rupees per share.

As of July 27, US$1 was equivalent to 67.18 Indian rupees.