Tag: q1result

Asian Paints on Tuesday reported a consolidated net profit of ₹1,036 crores, up over 80% as compared to ₹574 crores in the same quarter last year, as the business grew both in volume and value terms. Its revenue surged more than 54% to ₹8,607 crores as against ₹5,585 crore year-on-year (YoY).On a standalone basis, Asian Paint's revenue for the quarter under review increased by 59.6% whereas standalone Net Profit for the quarter rose by 70.7%. Asian Paints' total expenses were at Rs 7,287.84 crore, up 48.91 percent in Q1/FY 2022-23, as against Rs 4,893.87 crore in the corresponding period."The domestic decorative business more than doubled its volume and delivered stellar revenues over the lower base of last year, which had suffered from the first nationwide lockdown. The industrial business and the home improvement business also doubled its revenue on last year's low base," Amit Syngle, Managing Director & CEO of the paint company said. Read more

Shares of Tata group firm Titan surged 8 percent to Rs 2,170.95 on the BSE in Thursday's intra-day trade after the company said its total sales in the first quarter of fiscal 2022-23 (Q1FY23) grew 205 percent year-on-year (YoY) led by strong wedding demand and a low base. Its network expansion and campaigns continued to progress well throughout Q1FY23, which was the non-disrupted first quarter in the last three years, said Titan in its quarterly updates. In Q1FY23, jewelry revenue nearly tripled, clocking a growth of 207 percent. The Division had a good start to FY23 with robust sales on the auspicious occasion of Akshaya Tritiya in May month after 2 years of Covid-induced lockdowns in this period. Both walk-ins and buyers grew in line with revenues whereas ticket size marginally improved compared to Q1FY22, Titan Company said in its exchange filing. Read more