This week, many important companies, including Bajaj Auto, L&T Finance, and SpiceJet, released their quarterly results for the first quarter of fiscal year 25. On Wednesday, 22 corporations will announce their quarterly earnings. The stock markets are closed today in observance of Muharram.
Q1 Results Today
The companies that will announce Q1 FY25 results on July 17 include 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.
Asian Paints
India's largest paint manufacturer reported a 52% increase in consolidated net profit to ₹1,574.84 crore in Q1 FY24. In the equivalent quarter of FY23, the company's net profit was ₹1,036.03 crore. In Q1FY24, the company's consolidated revenue from operations increased by 6.6% to ₹9,182.31 crore from ₹8,606.94 crore the previous year.
In Q1 FY23, consolidated Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) climbed by 28.1% to ₹2,121.2 crore from ₹1.566 crore the previous year. In Q4 FY24, the company recorded a 1.3% increase in net profit to ₹1,275 crore from ₹1,258.4 crore in Q4 FY23.
Asian Paints' board of directors declared a final dividend of ₹28.15 per equity share. In October 2023, the paint producer issued an interim dividend of ₹5.15 per equity share for FY24, bringing the total payout for the preceding fiscal year to ₹33.30 per equity share, as reported by Mint on May 11.
Based on a favorable monsoon forecast, the paint manufacturer is optimistic about growing demand in FY25, according to the newspaper, which quoted Amit Syngle, CEO and Managing Director at Asian Paints.
