Last updated: 21 Jul, 2021 | 08:11 am
Asian Paints earnings: Trend over the quarters
Asian Paints Q1 results 2021 Review
Asian Paints earnings have been strong in the Apr-Jun 21 period, indicating the resilience of its business. The company was able to report strong numbers on a YoY basis mainly due to a lower base in the previous year (Apr- Jun 20). The numbers last year were severely impacted due to the lockdown imposed from Mar-20. However, the company’s performance has shown a decline on topline as well as bottomline when compared on a quarterly basis, as the impact of the second wave of the pandemic was felt in the quarter. Further, a sharp rise in raw material prices have weigned on the margins.
Going forward, the company is quite confident in its abilities to maximize the expected uptick in the business conditions moving forward. Further, as the economy improves further, Asian Paints will be able to expand its market share, and post growth in revenues and profits. After announcing the earnings for Apr-June quarter, shares of Asain Paints closed 5.47% higher at Rs 3,145.07, clocking a record high of Rs 3,179.50 intra-day. Asian Paints now become the 2nd largest paints company in the world in terms of market capitalization.