Asian Paints Limited today announced their financial results for the quarter ended June 30, 2020.
“After a complete washout in April’20 due to extended Lockdown, the Decorative business segment witnessed improving business conditions over the next two months.
"Thus, while the quarter ended in a negative territory, the business registered a healthy double digit volume growth in the month of June’20 to end the quarter on a promising note.
"The other business segments in India including the two industrial coatings business and both the segments in the Home Improvement category also witnessed improving trends in June’20, albeit at a lower pace.
"The International business portfolio did well supported by favourable operating conditions in markets in Middle East and Africa though key markets of Nepal and Bangladesh in Asia were impacted by the pandemic lockdowns.
"Profitability across businesses was well supported by the softer raw material prices and the various cost control measures being actively pursued by the Management”, said Amit Syngle, Managing Director & CEO of Asian Paints Limited.