Many prominent companies including Bajaj Auto, L&T Finance, and SpiceJet have announced their quarterly results for Q1 FY25 this week. On Wednesday, 22 companies are scheduled to report their quarterly earnings today. The stock markets are shut for Muharram today.
Q1 results today
Adarsh Plant Protect, Artson Engineering, Asian Paints, Elecon Engineering Co, Franklin Industries, Hathway Cable & Datacom, Integra Engineering India, Lotus Chocolate Co, LTIMindtree, National Standard (India), Parshva Enterprises, Ratnaveer Precision Engineering, Regency Fincorp, JHS Svendgaard Retail Ventures, RO Jewels, Sanathnagar Enterprises, Shish Industries, Surana Solar Limited, Trident Lifeline, Vanta Bioscience, Vimta Labs, and Vivid Mercantile will announce Q1 FY25 results on July 17.
Asian Paints
India’s biggest paint manufacturer reported a 52% year-on-year rise in consolidated net profit at ₹1,574.84 crore in Q1 FY24. The company’s net profit in the corresponding quarter in FY23 was ₹1,036.03 crore.
The company’s consolidated revenue from operations during Q1FY24 rose 6.6% to ₹9,182.31 crore from ₹8,606.94 crore, on a year-on-year basis.
The consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) during the same quarter the previous year increased 28.1% to ₹2,121.2 crore from ₹1.566 crore in the Q1 FY23. In Q4 FY24, the company reported an increase in the net profit by 1.3% at ₹1,275 crore from ₹1,258.4 crore in Q4 FY23.
Asian Paints said that the company’s board of directors has decided a final dividend of ₹28.15 per equity share. The paint manufacturer declared an interim dividend of ₹5.15 per equity share in October 2023 for FY24, therefore the total dividend for the previous fiscal year stands at ₹33.30 per equity share, according to a Mint report on May 11.
For FY25, the paint maker remains confident about the accelerating demand due to a favourable monsoon forecast, the report said, quoting Amit Syngle, CEO and Managing Director, Asian Paints.