Asian Paints Profit Dips Amid Market Volatility
Shares of Asian Paints dropped over 4% following a 4.83% fall in net profit for the December quarter of FY26. The company faced exceptional expenses, including the implementation of a new labour code. Despite increased revenue, the company's market value decreased significantly.
- Country:
- India
Shares of Asian Paints plummeted by more than 4% on Wednesday, marking the company's biggest dip among Sensex firms, as investors reacted to a 4.83% decline in consolidated net profit for the December quarter of FY26.
According to a regulatory filing, Asian Paints recorded a net profit of Rs 1,073.92 crore this quarter, down from Rs 1,128.43 crore during the same period last year. The market valuation took a hit, shedding Rs 10,939.64 crore, reducing to Rs 2,40,840.18 crore.
Despite revenue growth of 3.71% to Rs 8,867.02 crore, the company reported exceptional expenses tied to a new labour code and impairment losses. These included a Rs 157.61 crore charge, with Rs 63.74 crore related to gratuity liabilities and Rs 93.87 crore on 'Intangibles' from acquiring White Teak.
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