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      Asian Paints slips after Q4 results

      MoM Team / Mumbai, May 12, 2017 09:36 AM IST

        Asian Paints slips after Q4 results

        Asian Paints slipped 3 percent to Rs 1,132 on BSE after consolidated net profit rose 10.4 percent to Rs 462.22 crore on 8.9 percent rise in revenue from operations to Rs 4416.23 crore in Q4 March 2017 over Q4 March 2016.

        The result was announced after market hours yesterday, 11 May 2017.

        Meanwhile, the S&P BSE Sensex was down 24.99 points, or 0.08 percent to 30,225.99.

        On the BSE, 62,000 shares were traded in the counter so far, compared with average daily volumes of 1.12 lakh shares in the past one quarter.

        The stock had hit a high of Rs 1,178.60 and a low of Rs 1,132 so far during the day. The stock hit a record high of Rs 1,230 on 13 October 2016. The stock hit a 52-week low of Rs 850.10 on 22 December 2016.

        The stock had outperformed the market over the past one month till 11 May 2017, rising 8.90 percent compared with 2.05 percent rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.64 percent as against Sensex's 6.76 percent rise.

        The large-cap company has equity capital of Rs 95.92 crore. Face value per share is Re 1.

        On a consolidated basis, Asian Paints' net profit rose 11.1 percent to Rs 1939.42 crore on 7.8 percent increase in revenue from operations to Rs 17084.76 crore in the year ended March 2017 over the year ended March 2016.

        The board of directors of the company at a meeting approved the reappointment of K B S Anand as Managing Director & CEO of the company for a further period of 2 (two) years with effect from 1 April 2018.

        Asian Paints is India's leading paint company and ranked among the top ten decorative coatings companies in the world.

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      Source: Capital Market

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