Asian Paints' Q2FY24 results show a 53.28% increase in net profit and an interim dividend announcement

 Asian Paints' Q2FY24 results show a 53.28% increase in net profit and an interim dividend announcement

In Q2 FY24, Asian Paints reported a 53.28% YoY increase in its consolidated net profit, which came to ₹1,232.39 million. In the same time frame previous year, the business declared a ₹804 crore profit. Comparatively speaking, the net profit decreased by 21.77%.

In Q2FY24, the consolidated revenue from operations was ₹8,478 crore, unchanged from ₹8,457.57 crore in the same period the previous year. The previous quarter ended in June, with ₹9,182 crore in sales reported by the firm.

The company's financial report said that in Q2 FY24, finance expenses increased by 43.78% YoY to ₹50.90 crore, while staff costs increased by 16.28% YoY to ₹596.11 crore.

For the fiscal year that ends on March 31, 2024, the Board of Directors authorized the payment of an interim dividend of Rs. 5.15 per shares of equity with a face value of Rs. 1.

The interim dividend will be received from shareholders or shortly thereafter on Monday, November 13, 2023. Friday, November 3, 2023 has been selected set as the record date for the purpose of calculating the entitlement of the shareholders for the dividend.