Asian Paints share price declines nearly 5% after Q3 net profit falls 23.5% to ₹1,128 crore

In the early trade, the stock fell as much as 4.97% to ₹2,237.25 apiece on the NSE. At 9:57 am, it was down 4.29% to ₹2,253.3 per share.

The company's market capitalisation stood at ₹2,16,136.04 crore.

Asian Paints Q3 results

The company's revenue from operations was at ₹8,549.44 crore, reflecting a decline of 6% as compared to ₹9,103.09 crore in the year-ago period.

During the quarter under review, "muted demand conditions coupled with downtrading, and a weak festive season impacted revenue," said Asian Paints in its earnings statement.

Total expenses were down 1.33% year-on-year (YoY) to ₹7,224.10 crore in the December quarter, while total income slumped 5.9% YoYto ₹8,692.44 crore.

He said the domestic decorative business presented a 1.6% volume growth, while standalone revenues decreased 7.5% YoY impacted by weak festive season demand.

"While we saw sequential improvement in operating margins, the adverse mix coupled with increased sales and distribution expenses affected operating margins on a year-on-year basis," Syngle added.

In international business, the paint maker's sales jumped 5% to ₹818 crore in the three-month period ended December 2024 as against ₹779.1 crore in the corresponding period a year ago due to "improved macro-economic conditions in Sri Lanka, Bangladesh and Nepal offset by currency devaluation in Ethiopia and Egypt," the company said.

Over the outlook, the CEO said, "In the near term, we remain cautiously optimistic on a recovery in demand conditions while we continue to invest in our brand and focus on innovation."