Joining the other companies, Asian Paints too announced its Q2 results on Tuesday. In a statement, the company stated that the YoY profit has been increased 8%. In the quarter ended September 2017, the company made a profit of ₹508 Crores. This figure is after calculating the non-controlling interest. In the same quarter last year, the company had reported a profit of ₹470.83 Crores.
Revenue in the quarter in consideration was up by 13.7% to register a figure of ₹4,274.18 from ₹3,757.66 Crores last year. With the result, the company has also announced a dividend of ₹2.65 per share.
The statement also added that there was an impact on sales and stocking in the month of July due to the implementation of GST. A number of retailers had cleared the stock before July and that had a big impact on the sales in the initial period of this quarter. However, it maintained that September saw the sales recovering to a great extent.