Mon Nov 11 06:03:46 UTC 2024: ## Asian Paints Shares Plunge 8% After Q2 Profit Drops 42%
**MUMBAI, INDIA –** Asian Paints Ltd, a leading paint manufacturer, witnessed an 8% decline in its share price following the announcement of its second-quarter results for fiscal year 2024-25. The company’s net profit for the July-September quarter plummeted by 42% year-on-year to ₹694.64 crore, compared to ₹1,205.42 crore in the same period last year.
Furthermore, the company’s sales revenue also contracted by 5.3% to ₹8,003 crore in Q2FY25, down from ₹8,452 crore in the corresponding quarter of the previous year.
The company attributed the dip in profits to a slowdown in demand and rising input costs. On a sequential basis, net profit also declined by 40.68% compared to the first quarter.
Despite the slump in earnings, Asian Paints declared an interim dividend of ₹4.25 per share for its shareholders.
The share price has been on a downward trajectory this year, registering a 24.91% decline year-to-date. Over the past six months and year, the stock has depreciated by 11.44% and 17.36%, respectively.
Asian Paints, established in 1942, is one of the leading paint manufacturers globally with operations across 15 countries and 27 manufacturing facilities worldwide. It serves customers in over 60 countries and operates a 50:50 joint venture with PPG Inc. for automotive coatings.
First Piper 