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".

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.

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.

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".

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:

  • Anthony Joshua Names The Best Boxer In The World

    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.
    Giant balloons are delivering cell service to Puerto Rico

    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.

    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.
  • European Commission announces €106m in humanitarian aid to Sudan

    European Commission announces €106m in humanitarian aid to Sudan

    Even as Sudan's humanitarian needs grow "day by day", Stylianides acknowledged that there were only limited funds available. Since then, 2.7 million people have uprooted in the region alone.
    Huge march in Berlin

    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.

    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.
  • 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.

    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 .
    Quand le chien d'Emmanuel Macron urine sur le mobilier de l'Elysée

    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.
  • Fiona the hippo photobombs marriage proposal

    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.
    Halep makes dominant start to WTA Finals campaign with victory over Garcia

    Halep makes dominant start to WTA Finals campaign with victory over Garcia

    I just want to win the matches that I'm playing here". "It didn't happen like I wanted to, but it's not finished yet", said Garcia.

    Ibrahim Halawa arrives in Ireland today after four years in Egypt prison

    Irishman Ibrahim Halawa - who has spent the last four years of his life in an Egyptian prison - is set to arrive home to Ireland. His three sisters were later released on bail and allowed to return to Dublin, and were acquitted in abstentia.


Most liked

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.

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.

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
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.

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).

Governor asks Trump to not deport Indonesian immigrants
Earlier this year, the Trump administration made a decision to terminate the program and others like it around the country. Written by NH1 News on October 23, 2017 10:55 am.

Diana Shipping inc. (DSX) Given a $5.00 Price Target at Stifel Nicolaus
As of quarter end Ingalls & Snyder LLC had disposed of a total of 18,800 shares trimming its position 32.0%. Russell Investments Group Ltd. increased its stake in Diana Shipping inc.by 16.9% during the 2nd quarter.

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].

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.

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.

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.

Man charged over siege at Nuneaton bowling alley
MFA Bowl's chief executive Mehdi Afshar said he was told the suspect could be the ex-suspect of a staff member. Clarke, of Ryde Avenue in Nuneaton, has been remanded in custody and will appear in court later on Tuesday.