Asian Paints shares gain over 4% after Q2 earnings

The decorative business registered high single digit growth.

New Delhi, Oct 24 Asian Paints scrip today went up by over 4 per cent after the company reported 7.54 per cent increase in consolidated net profit for the second quarter ended September 30. This segment was impacted by destocking due to GST.

Asian Paints' second quarter profit grew by 20 percent year-on-year to Rs 593.66 crore, including discontinued operations.

"In accordance with Indian Accounting Standards- 18 on Revenue and Schedule III of the Companies Act, 2013, unlike excise duties, levies like GST, VAT are not part of revenue".

Anthony Joshua Names The Best Boxer In The World
Canelo avoids a shot from Golovkin. "It's because people like him and they're going to be entertained for their money". And I saw all that come into play when he fought Khan and when he fought Golovkin.

Austrian conservative chief Kurz seeks coalition with right-wing Freedom Party
Earlier Friday, Kurz was officially asked by the country's President Alexander van der Bellen to form a new government . He is on track to become Europe's youngest leader.

Max Verstappen hits out at 'idiot' F1 steward after US GP penalty
And what's happened? They've made an instant decision , and I think it's a shocking decision . It was the beginning of previous year [we agreed this].

Revenue for the quarter rose 13.7 per cent to Rs 4,274.18 crore, compared with Rs 3,757.66 crore in corresponding quarter of previous year.

Profit before depreciation interest and tax (PBDIT) for the group increased by 13.6% to 801.13 crores from Rs 705.41 crores. "On a sequential basis, material prices remained stable, helped to an extent by the strong currency", said KBS Anand, managing director and CEO, Asian Paints.

However, currency devaluation in Egypt and forex unavailability in Ethiopia, impacted the overall performance of the global operations. Its revenue from home improvement segment was Rs 41.77 crore in Q2.

Consequent to introduction of goods & services tax w.e.f July 1, 2017, central excise, value added tax etc have been subsumed in GST.

Related News:

  • Nikkei Posts Record Streak as Abe Secures Election Win

    Nikkei Posts Record Streak as Abe Secures Election Win

    JAPAN MANUFACTURING: A survey of manufacturers showed activity weakened this month but still grew relatively strongly. A new Chinese leadership lineup is expected soon, as the Community Party congress wraps up.
    Road Ministry's Bharatmala Phase 1 proposal gets Centre's all-clear

    Road Ministry's Bharatmala Phase 1 proposal gets Centre's all-clear

    The corridor will enable faster movement of cargo traffic with four-lane roads between the two economic corridors. Government's ambitious project Bharatmala is also present among the approved project.
    Apple Pay - Now made possible for Mashreq's customers

    Apple Pay - Now made possible for Mashreq's customers

    This is particularly compelling in cases where cards themselves have not been enabled with contactless/NFC payment technology. Instead, a unique device account number is assigned, encrypted and stored in the "Secure Element" on your device.
  • Ayesha Gulalai to retain NA seat as ECP dismisses PTI's disqualification reference

    Ayesha Gulalai to retain NA seat as ECP dismisses PTI's disqualification reference

    The ECP's decision was given after three out of five members supported Gulalai's stance that she could not be disqualified. He said that whatever Gulalai said in her statements was an indicator of leaving the party.
    News Reports New Development In Richmond Photo Scandal

    News Reports New Development In Richmond Photo Scandal

    The woman said she had consented to the photograph being taken but had not given permission for it to be forwarded to others. The Richmond Football Club said earlier this month it would fully co-operate with the investigation into the first photo.

    Shah Rukh Khan's fan and cancer patient Aruna PK passes away

    In a tweet, Shah Rukh expressed his deep condolences to the family and prayed that they have the strength to deal with the loss. Not the one to go back on his word, SRK took to Twitter to condole the death of his ardent fan and console her kids.
  • Nissan Serena e-Power Previewed Before Tokyo Motor Show

    Nissan Serena e-Power Previewed Before Tokyo Motor Show

    Apart from that, there's little else we know about the new Nissan SUV, but all should be revealed when the 2017 Tokyo Motor Show gets underway tomorrow.
    Israeli extremist leader arrested for allegedly threatening Jewish women dating Arab men

    Israeli extremist leader arrested for allegedly threatening Jewish women dating Arab men

    In April, six Israelis, including two soldiers, were arrested for racist attacks against Arabs with knives. They are descendants of Palestinians who remained on their land following the creation of Israel in 1948.
    Charlotte Crosby Claims Stephen Bear Cheated On Her In Twitter Rant

    Charlotte Crosby Claims Stephen Bear Cheated On Her In Twitter Rant

    She later posted: "When you try and tell every1 some1 is different and you have there back thru and thru". He continued: "At the minute, everyone is saying I cheated, I'm the worst person in the world".
  • New York Community Bancorp, Inc

    New England Research & Management Inc. grew its position in shares of New York Community Bancorp by 1.5% in the 2nd quarter. Geode Cap Management Ltd Limited Liability Company has invested 0.02% in New York Community Bancorp, Inc. (NYSE:NYCB).
    Nicaragua signs Paris Climate Agreement, leaving the USA  and Syria behind

    Nicaragua signs Paris Climate Agreement, leaving the USA and Syria behind

    The Nicaraguan government opted out of the global agreement in protest at its largely voluntary nature, arguing it was not ambitious enough and represented a " path to failure ".
    Liverpool 'must' replace Klopp with Ancelotti now - Crooks

    Liverpool 'must' replace Klopp with Ancelotti now - Crooks

    Coutinho has scored four goals in seven starts in the Champions League and the Premier League this season. Dejan Lovren had a shocker, and Simon Mignolet had a major flap for Harry Kane's second.


Most liked

Destiny 2 Is The Best-Selling Game For 2017
Destiny 2 launched over a month ago for consoles and within just a month the game has become the best selling game in the US. On September 6, Bungie and Activision launched the online sci-fi shooter sequel Destiny 2 .

Phil Neville interested in manager's job after Ronald Koeman's sacking
Everton are likely to opt for someone with more experience, but Giggsy wants it, and not on a "technicaliteh". However, there are a lot of coaches out there who would be interested in those positions.

Fiona the hippo photobombs marriage proposal
She was six weeks premature and weighed about 25 pounds less than the lowest recorded birth weight for the species. The proposal was made extra special when the zoo's famous hippo Fiona chose to drop in for a photo.

The Blackstone Group LP
It turned negative, as 35 investors sold BX shares while 129 reduced holdings. 79 funds opened positions while 190 raised stakes. Jacobi Capital Management LLC purchased a new position in The Blackstone Group L.P.in the 2nd quarter valued at about $116,000.

Microsoft Reveals First 13 Original Xbox One Backwards-Compatible Titles
Here's a video showcasing just how much better the game will look as well as the game's official description and shopping link. The only disadvantage, however, is that the 13 titles do not support online multiplayer.

Huge march in Berlin "against hatred and racism"
Glaser argued that freedom of religion shouldn't apply to Islam, which they say put him at odds with Germany's constitution. He has also said Muslims had forfeited their right to freedom of religion, as Islam did not respect that freedom.

Giant balloons are delivering cell service to Puerto Rico
He said that the Loon team has never tried to deploy the project's connectivity from scratch in such a short time. Hurricane Maria devastated the USA territory of 3.4 million people since making landfall last month.

Quand le chien d'Emmanuel Macron urine sur le mobilier de l'Elysée
Lorsque Julien Denormandie le questionne au sujet de cette habitude, Macron lui a répondu que ça ne lui était pourtant pas familier.

You Can Now Use GameCube Controllers With Your Nintendo Switch
You'll need the GameCube controller USB adapter that Nintendo released for use with Super Smash Bros. for Wii U . Still, pretty cool nonetheless.

Bristol City v Crystal Palace
It is expected the former England worldwide manager, who replaced Frank de Boer earlier in the season, will field a strong Palace line-up, however, he is also thought to be making changes.

New Nokia 7 Smartphone Sold Out In A Few Minutes
Some folks believe that device will be the Nokia 7, which, as previously mentioned, was unveiled in China less than a week ago. The new handset boasts of a vacuum molded 3D Corning Gorilla Glass design on its back, a first for the brand.

Penang killer crash: Two bus drivers detained for questioning
Firemen inspect the wreckage at the scene of the accident along KM147 of the North-South Expressway, Oct 24, 2017. Nik Ros Azhan said some of the workers were flung out of the bus on the left.

Sentry Investments Corp. Sells 80900 Shares of Lowe's Companies, Inc. (LOW)
Volume levels waned and LOW actually managed a declined which translated to 6.09 million shares changing hands on the day. Sva Plumb Wealth Management Llc bought 2,424 shares as the company's stock declined 15.88% while stock markets rallied.

NY bans e-cigarette use in bars, restaurants, parks
The bill adding e-cigarettes to the state Clean Indoor Air Act was sponsored by Assemblywoman Linda Rosenthal and state Sen. One of the big concerns is the popularity of e-cigarettes among young people.

Liberty Global PLC (LBTYK) Stake Lessened by State Street Corp
The California-based Sanctuary Wealth Advisors Llc has invested 5.09% in the stock. 13,774 are owned by Rhumbline Advisers. The institutional investor owned 12,091,912 shares of the company's stock after selling 283,745 shares during the period.