Asian Paints Q1 Results: Net profit falls 6% YoY to Rs 1,099.8 crore, revenue marginally down
Profit before depreciation, interest, tax, and other income (PBDIT), before accounting for associate contributions, dropped 4.1% year-on-year to ₹1,625 crore. PBDIT margin also narrowed to 18.2%, compared to 18.9% in Q1 FY25.
Profit before tax stood at ₹1,508.7 crore, marking a decline of 5.9% from ₹1,603.6 crore a year earlier. Net profit after minority interest slipped 6% to ₹1,099.8 crore, compared to ₹1,170 crore in the corresponding period last year.
Segment Performance:
In the international business, sales rose 8.4% to ₹736.1 crore, supported by growth in Asian markets, the UAE, and Egypt. In constant currency terms, the growth was 17.5%. Profit before tax jumped to ₹38 crore from ₹6.5 crore in the same quarter last year.
The home décor segment remained weak. Bath fittings revenue fell 5.1% to ₹88.7 crore, with a PBDIT loss of ₹1.3 crore. The kitchen business posted a 2.3% decline in sales to ₹98.1 crore and slipped into a PBDIT loss of ₹6.2 crore, compared to a profit of ₹0.9 crore last year. White Teak sales dropped 31.9% to ₹20.2 crore, while Weatherseal saw a 32.2% rise in sales to ₹15.2 crore.
In the industrial coatings business, the Asian Paints PPG (APPPG) JV saw sales rise 4.8% to ₹307.4 crore, though PBT declined to ₹24.8 crore from ₹29.8 crore. The PPG Asian Paints (PPGAP) JV reported an 11.1% increase in sales to ₹574.5 crore, while PBT slipped slightly to ₹97.3 crore from ₹99.2 crore.
Ahmedabad Plane Crash
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
25 minutes ago
- The Hill
Trump's planned 100% computer chip tariff sparks confusion among businesses and trading partners
President Donald Trump's plans for 100% tariffs on computer chips that aren't made in the U.S. are stoking confusion among businesses and trading partners — boosting stocks for leading semiconductor companies while leaving smaller producers scrambling to understand the implications. The U.S. imports a relatively small number of chips because most of the foreign-made chips in a device — from an iPhone to a car — were already assembled into a product, or part of a product, before it landed in the country. 'The real question everybody in the industry is asking is whether there will be a component tariff, where the chips in a device would require some sort of separate tariff calculation,' said Martin Chorzempa, a senior fellow at the Peterson Institute for International Economics. Trump said Wednesday that companies that 'made a commitment to build' in the U.S. would be spared the import tax, even if they are not yet producing those chips in American factories. 'We'll be putting a tariff of approximately 100% on chips and semiconductors,' Trump said in the Oval Office while meeting with Apple CEO Tim Cook. 'But if you're building in the United States of America, there's no charge.' Wall Street investors interpreted that as good news not just for U.S. companies like AMD, Intel and Nvidia, but also for the biggest Asian chipmakers like Samsung and Taiwan Semiconductor Manufacturing Company that have been working to build U.S. factories. But it left greater uncertainty for smaller chipmakers in Europe and Asia that have little exposure to the AI boom but still make semiconductors inserted into essential products like cars or washing machines. These producers 'probably aren't large enough to get on the map for an exemption and quite probably wouldn't have the kind of excess capital and margins to be able to add investment at a large scale into the United States,' Chorzempa said. The announcement came more than three months after Trump temporarily exempted most electronics from his administration's most onerous tariffs. During the COVID-19 pandemic, a shortage of computer chips increased the price of autos and contributed to higher inflation. Chorzempa said chip tariffs could again raise prices by hundreds of dollars per vehicle if the semiconductors inside a car are not exempt. 'There's a chip that allows you to open and close the window,' Chorzempa said. 'There's a chip that is running the entertainment system. There is a chip that's kind of running all the electronics. There are chips, especially in EVs, that are doing power management, all that kind of stuff.' Much of the investment into building U.S. chip factories began with the bipartisan CHIPS and Science Act that President Joe Biden signed into law in 2022, providing more than $50 billion to support new computer chip plants, fund research and train workers for the industry. Trump has vocally opposed those financial incentives and taken a different approach, betting that the threat of dramatically higher chip costs would force most companies to open factories domestically, despite the risk that tariffs could squeeze corporate profits and push up prices for electronics.
The Hill
an hour ago
- The Hill
Intel's stock tumbles after Trump says its CEO must resign
Shares of Intel slumped Thursday after President Donald Trump said in a social media post that the chipmaker's CEO needs to resign. 'The CEO of Intel is highly CONFLICTED and must resign, immediately,' Trump posted on Truth Social. 'There is no other solution to this problem. Thank you for your attention to this problem!' Trump made the post after Sen. Tom Cotton sent a letter to Intel Chairman Frank Yeary expressing concern over CEO Lip-Bu Tan's investments and ties to semiconductor firms that are reportedly linked to the Chinese Communist Party and the People's Liberation Army, and asked the board whether Tan had divested his interests in these companies to eliminate any conflicts of interest. Intel did not immediately respond to a request for comment, so it is not immediately clear if Tan has divested his interests in the companies. 'In March 2025, Intel appointed Lip-Bu Tan as its new CEO,' Cotton wrote in the letter. 'Mr. Tan reportedly controls dozens of Chinese companies and has a stake in hundreds of Chinese advanced-manufacturing and chip firms. At least eight of these companies reportedly have ties to the Chinese People's Liberation Army.' Tan, who took over as CEO in March, previously launched the venture capital firm Walden International in 1987 to focus on funding tech start-ups, including chip makers. China's state media has described Tan as 'actively' devoted to Chinese and Asian markets, having invested not only in the Taiwan Semiconductor Manufacturing Company but also China's state-owned enterprise SMIC, which seeks to advance China's chipmaking capabilities. The demands made by Trump and Cotton come as economic and political rivalries between the U.S. and China increasingly focus on the competition over chips, AI and other digital technologies that experts say will shape future economies and military conflicts. Cotton, the chairman of the Senate Intelligence Committee, has raised concerns that Chinese spies could be working at tech companies and defense contractors, using their positions to steal secrets or plant digital backdoors that give China access to classified systems and networks. On Thursday the Arkansas Republican wrote to the Department of Defense urging Defense Secrectary Pete Hegseth to ban all non-U.S. citizens from jobs allowing them to access DoD networks. He has also demanded an investigation into Chinese citizens working for defense contractors. 'The U.S. government recognizes that China's cyber capabilities pose one of the most aggressive and dangerous threats to the United States, as evidenced by infiltration of our critical infrastructure, telecommunications networks, and supply chains,' Cotton wrote in an earlier letter calling on the Pentagon to conduct the investigation. National security officials have linked China's government to hacking campaigns targeting prominent Americans and critical U.S. systems. 'U.S. companies who receive government grants should be responsible stewards of taxpayer dollars and adhere to strict security regulations,' Cotton wrote on the social platform X. Intel had been a beneficiary of the Biden administration's CHIPS Act, receiving more than $8 billion in federal funding to build computer chip plants around the country. Shares of the California company slid 3.5%, while markets, particularly the tech-heavy Nasdaq, gained ground. Founded in 1968 at the start of the PC revolution, Intel missed the technological shift to mobile computing triggered by Apple's 2007 release of the iPhone, and it's lagged more nimble chipmakers. Intel's troubles have been magnified since the advent of artificial intelligence — a booming field where the chips made by once-smaller rival Nvidia have become tech's hottest commodity. Intel is shedding thousands of workers and cutting expenses — including some domestic semiconductor manufacturing capabilities — as Tan tries to revive the fortunes of the struggling chipmaker.
Business Insider
an hour ago
- Business Insider
Quant hedge funds start digging out of their hole
Quant hedge funds might have finally seen the light at the end of the tunnel. After weeks of minor losses that one fund executive described as a " long, slow bleed," systematic funds ended July with a strong week, according to a note sent by Morgan Stanley to clients after trading last Thursday. The note stated that July's final week clawed back roughly 30% of quant losses for the month, "softening the blow for what's otherwise been a strong year." A note from Goldman Sachs' prime brokerage unit said stock-picking quants ended July down 2%, bringing the average fund's annual return to less than 10%. This figure still bests the average hedge fund and the S&P 500 over the same timeframe, but the summer slowdown put the brakes on what had been shaping up to be a great year. At London-based Qube Research & Technologies, the fast-growing quant firm fell 4.5% in its flagship fund in July, a person close to the firm told Business Insider, clawing back some losses in the last week of July. The fund is still up more than 13% for the year. Engineers Gate, the $4 billion manager, ended May up 12%, but lost more than 4% in July, a person close to the firm said. Its 2025 returns now sit at 7.1% through July after a strong close to the month. Man Group's multistrategy quant strategy, AHL Dimension, lost more than 3% in July, the firm's website shows. The strategy is down close to 9% on the year. Walleye's quant group was the worst performer of the firm's four strategies in July, the firm told investors in a recent update, but was still positive thanks to Asian strategies offsetting losses in the US. The managers declined to comment. Since the start of June, a combination of factors, including a momentum sell-off and crowded trades, have stung quant managers. Still, many in the industry were anticipating a significant bounce-back once things reverted. "We think strong hands should be levering up into this headwind," a mid-July note from former Bridgewater investment committee member and Dark Forest Technologies founder Jacob Kline read.
