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Asian Paints Logs Nearly 18% Drop in Consolidated Profit in Fiscal Q3; Revenue Beats Estimates, EPS Misses

Asian Paints’ (ASIANPAINT, BOM:500820) consolidated profit attributable to the owners came in at 10.16 billion Indian rupees ($136.3 million) in the fiscal third quarter, down 17.9% from 12.38 billion rupees a year ago.

Earnings per share for the three months ended Dec. 31, 2021, slid to 10.59 rupees from 12.91 rupees a year earlier.

Analysts polled by Visible Alpha expected an EPS of 11.12 rupees.

Meanwhile, revenue of the paint company jumped 25.6% year on year to 85.27 billion rupees, surpassing the 80.17 billion-rupee revenue estimate of analysts polled by Visible Alpha.

Price (INR): ₹3306.40, Change: ₹+26.00, Percent Change: +0.79%

Source: 16:05 Jan 20, 2022 MT Newswires

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