Asian Paints Q1 net up 30.77 pc

Mumbai, July 28 (UNI) Asian Paints Ltd has posted a profit of Rs 58.01 crore for the quarter ended June 30, 2006 as compared to Rs 44.36 crore for the quarter ended June 30, 2005, an increase of 30.77 per cent.

Announcing the results, the company said its total income (net of discounts&excise) has increased from Rs 516.01 crore for the quarter ended June 30, 2005 to Rs 609.77 crore for the quarter ended June 30, 2006 Commenting on the results, Mr Ashwin Dani, Vice Chairman&Managing Director of the Company said,''Demand was buoyant in almost all segments of the business; this reflects the robust economic growth in the country and the continuing construction boom. Our operations were able to record excellent growth; given our strengths in product range and geographic representation, we are well positioned to take advantage of the opportunities. The international business recorded satisfactory growth in the first quarter.'' UNI SN PM SKB1753