Asian Paints shares drop over 3% after Q3 earnings

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Asian Paints

New Delhi: Shares of Asian Paints on Wednesday dropped more than 3 per cent after the firm reported a decline of 23.5 per cent in consolidated net profit for the December quarter.

The stock ended 3.38 per cent lower at Rs 2,275.65 apiece on the BSE. Intra-day, it tumbled 5.10 per cent to Rs 2,235.

On the NSE, it dropped 3.40 per cent to Rs 2,274.20 each share.

The company's market valuation eroded by Rs 7,635.2 crore to Rs 2,18,279.85 crore on the BSE.

In volume terms, 2.01 lakh shares of the firm were traded on the BSE and 34.75 lakh shares on the NSE during the day.

Asian Paints on Tuesday reported a decline of 23.5 per cent in consolidated net profit at Rs 1,128.43 crore for the third quarter ended December 2024, amid downtrading due to muted demand and a weak festive season.

The company had logged a net profit of Rs 1,475.16 crore during the October-December period a year ago, according to a regulatory filing by Asian Paints.

Its revenue from operations went down 6 per cent to Rs 8,549.44 crore in the December quarter. In the year-ago period, it stood at Rs 9,103.09 crore.

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

Asian Paints Share market Asian Paints Results Asian Paints Share Asian Paints Ltd Q3 results Asian Paints Profits