Friday May 9, 12:59 PM
India's Asian Paints FY net up 45.6 pct on volume growth across divisions
MUMBAI (Thomson Financial) - Asian Paints Ltd. posted a 45.6 percent rise in full-year net profit, benefiting from volume growth in its all three businesses, especially the decorative business.
In a regulatory filing, India's largest paint maker reported a net profit of 4.09 billion rupees for the year to end-March 2008 compared with 2.81 billion a year earlier while total revenues, including sales, grew 20 percent to 44.05 billion rupees.
The company declared a final dividend of 10.5 rupees, hiking the total dividend to 17 rupees from last year's 13 rupees.
Before the announcement, Asian Paint shares closed 1.65 percent lower at 1,212.00 rupees on the Bombay Stock Exchange, while the benchmark Sensex ended 2.01 percent down at 16,737.07.
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