Asian Paints tops Q3 profit view on strong decorative business

BENGALURU, Jan 17 (Reuters): India's top paintmaker Asian Paints, opens new tab reported a larger-than-expected rise in third-quarter profit on Wednesday, helped by strong sales in its mainstay decorative business.

Consolidated net profit rose about 35 per cent to 14.48 billion rupees ($174.15 million) in the quarter ended Dec. 31, it said in a filing, opens new tab, surpassing analysts' expectations of 14.04 billion rupees on an average, as per LSEG data.

A 12 per cent volume growth in the decorative segment, which accounts for about 80 per cent of Asian Paints' topline, helped revenue to rise more than 5 per cent to 90.75 billion rupees.