Asian Paints, the Indian paint manufacturer beat market expectations with a consolidated net profit of INR 15.50bn ($189.5m) for Q1 2019, up 52% YoY, boosted by strong demand for decorative paints and lower raw material costs. While revenue was up by nearly 7%, costs for materials consumed fell by 12% thanks to easing crude oil prices.
Asian Paints beats Q1 profit view on strong demand, reduced costs
Asian Paints, the Indian paint manufacturer beat market expectations with a consolidated net profit of INR 15.50bn ($189.5m) for Q1 2019, up 52% YoY, boosted by strong demand for decorative paints and lower raw material costs. While revenue was up by nearly 7%, costs for materials consumed fell by 12% thanks to easing crude oil prices.