Asian Paints Q2 net rises 27 pc to Rs 77.56 cr

Mumbai, Oct 30 (UNI) Asian Paints has posted a net profit of Rs 77.56 crore for the quarter ended September 30, 2006 as compared to Rs 61.17 crore for the quarter ended September 30, 2005, a rise of 26.79 per cent.

Announcing the results, the company said its total income (net of discounts&excise) has increased from Rs 626.37 crore for the quarter ended September 30, 2005 to Rs 794.95 crore for the quarter ended September 30, 2006.

As per the consolidated results, the group has posted a profit attributable to shareholders of Rs 82.73 crore for the quarter ended September 30, 2006 as compared to Rs 59.15 crore for the quarter ended September 30, 2005. Total income (net of discounts&excise) has increased from Rs 797.53 crore for the quarter ended September 30, 2005 to Rs 1007.86 crore for the quarter ended September 30, 2006.

The company's Board of Directors has approved the payment of interim dividend of Rs 5.50 per equity share of Rs 10 each (55 per cent) for the financial year ending March 31, 2007. November 6 has been fixed as the record date for the purpose of payment of interim dividend.

''In the six months to date, we have registered good growth in all segments of decorative coatings and across all regions of the country. An early Diwali, and a price increase from October 1 that increased dealer stocking have also impacted sales in the first half,'' said company vice chairman and managing director Aswin Dani.

''International business unit also recorded good growth backed by a strong performance of the Middle Fast region,'' he added.

UNI SN MAZ AW1805