Asian Paints has released its first quarter results. The company’s earnings and volumes in the first quarter have been above estimates. However, margins have come down to the lowest in 30 quarters. For the quarter ended June 30, 2021, the company’s profit stood at Rs 574.3 crore as against its estimate of Rs 721.
Let us inform that in the first quarter of its last year, the company’s profit stood at Rs 219.6 crore. In this quarter, the company’s profits have seen a jump of 161% on a year-on-year basis.
For the quarter ended June 30, 2021, the company’s income stood at Rs 5,585.4 crore as against the estimated Rs 5,550. Let us inform that in the first quarter of its last year, the company’s income stood at Rs 2,922.7 crore.
The company’s EBITDA and profits have also come in below estimates. The company’s EBITDA margin stood at 16.4% in the June quarter. At the same time, it was estimated to be at 20%. Let us tell you that in the first quarter of last year, the company’s EBITDA margin stood at 16.6%.
Speaking to CNBC-Awaaz on the company’s results and outlook ahead, Amit Syngle, MD and CEO, Asian Paints said that the company has witnessed double digit growth in the last three years. However, due to the lockdown in the month of May, there has been little impact on the growth of the company. After the decline in corona cases, demand has increased again in June. In such a situation, it is not wrong to say that the growth outlook of the company will be good going forward.
Talking about the signals coming from the realty sector, he said that we have got 20-25 per cent income from new construction. There are still many problems in the realty sector.
He further said that the problems have increased due to the rise in inflation. Due to increase in cost, the company has increased the price of the product. However, the company has not passed the entire burden on the customers. The prices are expected to come down going forward.
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