Tue Feb 04 09:10:00 UTC 2025: ## Asian Paints Q3 Profit Down 23% Amid Weak Demand

**MUMBAI** – Asian Paints reported a 23 percent drop in its net profit for the December quarter, citing weak demand as the primary factor. The company’s net profit reached ₹1,128 crore, significantly lower than the ₹1,475 crore reported during the same period last year. Revenue also decreased by 6 percent to ₹8,522 crore, down from ₹9,075 crore.

Profit before depreciation, interest, tax, other income, and exceptional items (PBDIT) experienced a 20 percent decline, reaching ₹1,637 crore compared to ₹2,056 crore in the previous year’s corresponding quarter. While the domestic decorative business saw a 2 percent volume growth, revenue dipped by 8 percent due to discounts implemented to counteract the sluggish demand. The industrial paint business remained relatively stagnant, with sales remaining flat at ₹287 crore.

The Home Decor segment showed some positive signs, with bath fittings sales increasing by 3 percent to ₹88 crore, and kitchen business sales rising 3 percent to ₹103 crore. However, both segments continued to report PBDIT losses.

International business revenue saw a 5 percent increase in rupee terms and a 17 percent increase in constant currency terms, driven by growth in West Asia and improved macroeconomic conditions in several Asian markets. This growth, however, was partially offset by currency devaluation in certain regions.

Amit Syngle, Managing Director & CEO of Asian Paints, attributed the subdued performance to weak demand, particularly in urban centers. While expressing cautious optimism about a near-term demand recovery, Syngle emphasized the company’s continued investment in branding, innovation, and customer-centric strategies.

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