New Delhi: Asian Paints’ consolidated net profit jumped 20 percent at Rs 764.43 crore for the third quarter of the current fiscal as against Rs 635.83 crore in the corresponding quarter of the previous fiscal.
The total revenues of the company went by 3.3 percent to touch Rs 5,490 crore as compared to the same period of the previous fiscal, the company said in a regulatory filing.
For the first nine month period ended December 31, 2019, Asian Paints’ revenue from operations (on consolidated basis) jumped 9.2 percent to Rs 15,575.66 crore from Rs 14,256.95 crore in the corresponding period of the previous fiscal.
The company is facing a probe by the Competition Commission of India into alleged malpractices and abuse of dominat psotion in some states of he country. The probe has been ordered after JSW Paints filed a complaint with the anti-monopoly watchdog alleging that Asian Paints is threatening its dealers in some of the South Indian states that it will stop supplies if they stock paints of JSW Paints.