Asian Paints shares up over 2% on strong Q4 earnings

Shares of Asian Paints rose by over 2 % after the company reported a 19.87 % increase in consolidated net profit for the March quarter. 

The stock climbed 2.46 % to Rs 929.75 on BSE.  At NSE, shares of the company gained 2.54 % to Rs 931. 

Asian Paints on Wednesday reported a 19.87 % increase in consolidated net profit at Rs 408.75 crore for the March quarter. 

It had posted a net profit of Rs 340.97 crore in the corresponding period last year. 

Consolidated sales during the fourth quarter rose 12.28 % to Rs 3,919.23 crore as against Rs 3,490.39 crore in the year-ago period, the company had said in a BSE filing. 

For the entire fiscal, the firm's consolidated net profit surged to Rs 1,726.21 crore as against Rs 1,395.15 crore in 2014-15. 

Net sales stood at Rs 15,330.72 crore in 2015-16 compared with Rs 14,005.33 crore in the previous fiscal.