Asian Paints allows Q4FY08 Results

Asian Paints Ltd has announced the following results for the quarter & year ended March 31, 2008:

The Audited results for the Quarter ended March 31, 2008

The Company has posted a net profit after prior period items of Rs 848.40 million for the quarter ended March 31, 2008 as compared to Rs 711.60 million for the quarter ended March 31, 2007. Total Income has increased from Rs 7402.60 million for the quarter ended March 31, 2007 to Rs 8797.10 million for the quarter ended March 31, 2008.

The Audited results for the Year ended March 31, 2008

The Company has posted a net profit after prior period items of Rs 3752.00 million for the year ended March 31, 2008 as compared to Rs 2720.50 million for the year ended March 31, 2007. Total Income has increased from Rs 28617.40 million for the year ended March 31, 2007 to Rs 34787.40 million for the year ended March 31, 2008.

The Consolidated results are as follows:

The Unaudited consolidated results for the Quarter ended March 31, 2008

The Group has posted a net profit attributable to shareholders of Rs 945.20 million for the quarter ended March 31, 2008 where as the same was at Rs 666.10 million for the quarter ended March 31, 2007. Total Income is Rs 11464.00 million for the quarter ended March 31, 2008 where as the same was at Rs 9725.60 million for the quarter ended March 31, 2007.

The Audited consolidated results for the Year ended March 31, 2008

The Group has posted a net profit attributable to shareholders of Rs 4091.80 million for the year ended March 31, 2008 where as the same was at Rs 2810.30 million for the year ended March 31, 2007. Total Income is Rs 44662.80 million for the year ended March 31, 2008 where as the same was at Rs 37072.20 million for the year ended March 31, 2007.

Asian PPG Industries Ltd., a joint venture of the Company had acquired '2K Business' from ICI Paints on March 16, 2007. Financials for 2007-08 include profit and sales from '2K Business' and hence the figures are strictly not comparable in the above results for the year ended March 31, 2008.