Asian paint share Decline 9%

The results for the September quarter have been released, and the performance of all companies has been quite disappointing. Many companies reported poor results for this quarter. Asian Paints also released its results, which were not impressive. In the September quarter, Asian Paints faced significant setbacks. The company’s profit dropped by 42-43%, and there was also a decline in overall profit. Asian Paints’ performance has been disappointing, causing significant losses for its shareholders. Despite the losses, Asian Paints has announced a dividend for its shareholders. On Friday, November 8, even before the results were released, Asian Paints’ stock dropped by around 2%, closing at approximately INR 2769.25. As a result, Asian Paints shares have been consistently in the red for a while now.

Stock Market Opening – Asian Paints Share decline

On Monday,

Asian paint share Decline

as the stock market opened, Asian Paints’ stock dropped by around 8-9%, reaching INR 2539. The reason for this decline is the poor quarterly results of Asian Paints. Due to these disappointing results, several brokerage firms are considering lowering their target price for Asian Paints’ stock.

Asian Paints share decline Net Profit

Asian Paints’ net profit declined by 42.5% this year, standing at INR 695 crore for the September quarter. The market capitalization of Asian Paints was valued at INR 8 crore as of November 8, 2024. The 52-week high for Asian Paints’ stock reached around INR 3500, while the 52-week low was around INR 2700. Today, Monday, November 11, Asian Paints’ stock is trading near INR 2500, indicating a grim outlook for the share.

Asian Paints Q2 Results Summary:

1. Revenue down by 5.4%, at INR 8480 crore

2. EBITDA down by 28%, at INR 1239 crore versus INR 1715 crore

3. Margin at 15.5%

4. Net profit declined by 44%, at INR 694 crore ver

sus INR 1230 crore.