MUMBAI (Commodity Online): India’s leading paint maker, Asian Paints Ltd (BOM: 500820) surged over 4% in the opening trading on the Bombay Stock Exchange (BSE) today.

The company posted 104% rise in its Q2 net profits over corresponding period last year.

Get Trading Tips just for one commodity

The large-cap stock had outperformed the market in the past one quarter, gaining 18.25% as compared to the Sensex's return of 13.11%. The stock was up over 16% in past one month as increased demand for paints owing to the festive season in India.

Asian Paints' total income rose 21.30% to Rs.1811.36 crore in Q2 September 2009 over Q2 September 2008. On a standalone basis, the company's net profit surged 108.97% to Rs.254.32 crore on 24.18% rise in total income to Rs.1472.91 crore in Q2 September 2009 over Q2 September 2008. The company declared its results after market hours on Thursday, 22 October 2009.

During the quarter ended September 2009, the company earned Rs.62.71 crore on sale of long-term investment.
At the time of announcing results, the board of directors approved payment of interim dividend at rate of Rs.8.50 per share (85%).

The company manufactures and markets paints. The group also manufactures phthalic anhydride and pentaerythritol. The group operates in 20 countries including Australia, Fiji, Solomon Islands, Tonga, Vanuatu, Myanmar, China, Thailand, Malaysia, Singapore, Bangladesh, Nepal, Srilanka, Bahrain, the UAE, Oman, Barbados, Jamaica, Trinidad, Tobago, Egypt, Mauritius and Malta.

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook