Mumbai

Asian Paints announced on Wednesday that its consolidated net profit fell by 25% to Rs 1,170 crore for the April-June quarter of 2024-25, compared to the same time last year. The company also reported a 2% decrease in revenue from operations, totaling ₹8,970 crore.

Amit Syngle, the CEO of Asian Paints, explained that the paint industry faced challenges due to a severe heat wave and the impact of general elections during this period. He noted that these factors negatively affected demand.

Looking ahead, Syngle expressed optimism, stating that demand is expected to improve thanks to rising rural sentiment and the gradual onset of monsoon rains.

Additionally, the company’s profit before depreciation, interest, tax, and other exceptional items (PBDIT) margin decreased to 18.9% of net sales in the first quarter, down from 23.2% in the same quarter last year. This decline reflects the tough market conditions faced during the period, but there is hope for recovery as market dynamics shift.