Asian Paints on Tuesday reported a decline of 23.5 per cent in consolidated net profit at ₹1,128.43 crore for the third quarter ended December 2024 amid downtrading due to muted demand and weak festive season.
The company had logged a net profit of ₹1,475.16 crore during the October-December period a year ago.
Revenue from operations during the quarter went down 6 per centto ₹8,549.44 crore in the December quarter.
In the year-ago period, it stood at ₹9,103.09 crore.
Asian Paints’ total expenses were at ₹7,224.10 crore in the December quarter, down 1.33 per cent year on year.
Titan profit dips
Leading jewellery and watchmaker Titan on Tuesday reported a marginal decline in its consolidated net profit at ₹1,047 crore in the December quarter. The company posted a net profit of ₹1,053 crore a year ago.
However, sales rose 25.68 per cent to ₹17,550 crore during the quarter under review. It was ₹13,963 crore for the corresponding quarter. Total expenses of Titan increased 27.47 per cent to ₹16,472 crore in the December quarter.
Birla Corp net falls
Birla Corporation on Tuesday reported a net profit of ₹31 crore for the quarter ended December 31, down 71.6 per cent from ₹109 crore a year ago.
Lower realisation from cement sales resulted in the company reporting a revenue of ₹2,272 crore in Q3FY25, down 2.4 per cent from ₹2,327 crore in Q3FY24.
“Realisation from cement sales during the December quarter at ₹4,781 per tonne was 9.5 per cent lower than last year because of lower prices in Maharashtra and central India,” the company said.
“While prices remained flat through October, cement manufacturers were able to raise prices on an average by ₹3-5 per 50-kg bag only between end-November and December. In the eastern and central markets, which are among of the company’s core markets, price rose by only ₹2-3 per bag, against an average of ₹4 for the rest of the country,” the statement said.
In a stock exchange filing on Tuesday, Birla Corporation said that its board has approved the closure of PVC flooring plant of Birla vinoleum division located in Birlapur in Bengal. The performance of the jute division of Birla Corporation was impacted by a drop in government orders and higher raw material and conversion costs.
