Asian Paints Ltd., has achieved impressive working results for the third quarter ended 31st Dec., 2009. For the quarter, the Turnover has increased by23% whereas the Gross Profit has jumped by 186% and the Net Profit has spurted by 236%. “All the three Business Units viz Decorative, Industrial and International registered good profit growth. Demand conditions for decorative paints remained buoyant in most parts of the country”, said P.M. Murty, MD & CEO. ‘Margins have increased due to lower material prices compared to last year but are not sustainable going forward” he added. For the 9 months ended 31st Dec., 2009, the TO has increased by 19%, GP by 99% and PAT by 117%. The Return on Networth is high at 17% for the quarter and 53% for nine months. Technically, the scrip has rallied from Rs.14141- in Oct. to Rs.17761- with a P/E ratio of 20 and B V of Rs.125/-.
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