How were the quarterly numbers of Asian Paints for the March 2022 quarter?

For the fourth quarter ended March 2022 quarter; India’s largest paints company, Asian Paints India Ltd, reported flat growth in net profits at Rs874 crore. While the top line remained robust, the bottom line took a hard hit on account of higher raw material costs. This has been a distinct trend visible for last two quarters, wherein cost of power, cost of crude, chemicals and even packaging materials have gone up sharply.

The profit performance was also impacted by an exceptional loss of Rs.53.7 crore on account of a write-off taken in their Sri Lanka business amidst the turmoil in the country. Sales revenues were up 21% to Rs.7,890 crore in Q4FY22. The board of Asian Paints has recommended final dividend of Rs.15.50 per share subject to shareholder approval. The international business delivered a heartening double-digit revenue growth in Q4FY22.