Asian Paints profit up 37% QOQ in Q3FY23

Asian Paints Ltd has reported consolidated financial results for the period ending December 31, 2022.

Financial Results (Q3 FY2023) – QoQ Comparison

FinancialsQ3 FY2023Q2 FY2023% Change
Total Income₹ 8723.30 crs₹8553.04 crsUp Tick / Down Tick1.99%
Net Profit₹1072.67 crs₹782.71 crsUp Tick / Down Tick37.05%
EPS₹11.19₹8.16Up Tick / Down Tick37.13%

Financial Results (Q3 FY2023) – YoY Comparison

FinancialsQ3 FY2023Q3 FY2022% Change
Total Income₹ 8723.30 crs₹8599.05 crsUp Tick / Down Tick1.44%
Net Profit₹1072.67 crs₹1015.69 crsUp Tick / Down Tick5.61%
EPS₹11.19₹10.59Up Tick / Down Tick5.67%

• Extended monsoon & shorter Diwali impacted sales in October & November • 9MFY23 picture is strong, product mix was inferior • Rural sector saw downgradation w.r.t using economical paint vs luxury paint • Don’t think there is large structural change • Expect margin to improve going ahead • Expect backward integration to boost margin by 2% • Trying to improve product mix • Bath & kitchen segment has seen a dip in Q3 • Saw some slowdown in sanitary business in Q3 • There is no change in competitive pressure in the market • Seen market share gain of 3% in the last 3 years

Amit Syngle, CEO of Asian Paints

Share Price


Asian Paints Ltd is currently 13% down this year.


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