Asian Paints on Thursday reported a 62.28 per cent jump in its consolidated profit to Rs 1,265.35 crore for the third quarter ended December 31, 2020.
The company had posted a profit of Rs 779.71 crore during the same period of previous fiscal.
Revenue from operations for the October-December quarter stood at Rs 6,886.39 crore, up 25.43 per cent, from Rs 5,490.11 crore reported in the same period of 2019-20, Asian Paints Ltd said in a regulatory filing.
Amit Syngle, managing director & CEO, Asian Paints said demand conditions continued to exhibit a strong recovery across business segments, spread over most regions in the third quarter of this financial year.
The domestic decorative business delivered a powerful performance with more than 30 per cent volume growth led by a strong performance in premium and luxury portfolios. The Home Décor foray of Asian Paints got a big fillip from a strong performance of the home improvement business”.
Steel maker Jindal Steel and Power Ltd (JSPL) on Thursday posted a consolidated net profit of Rs 2,432.20 crore for the December quarter of 2020, mainly on account of increased income.
The company had recorded a net loss of Rs 257.36 crore during the same quarter a year ago.
Total income jumped to Rs 10,898.70 crore against Rs 7,526.28 crore in the October-December quarter of 2019-20, up about 45 per cent.
JSPL's total expenses were at Rs 7,878.86 crore, compared to Rs 7,767.37 crore earlier.
Part of the OP Jindal Group, JSPL has a presence in steel, power, mining and infrastructure sectors.