Chennai: Paint major Asian Paints Ltd closed the first quarter with a higher profit on a higher revenue.
In a regulatory filing on Tuesday, Asian Paints said it closed Q1FY24 with a total income of Rs 8,330.73 crore (against Q1FY23’s Rs 7,700.07 crore) and an after tax profit of Rs 1,508.37 crore (Rs 1,017.28 crore).
The company’s Board also appointed R. Seshasayee, Independent Director and former Managing Director of Ashok Leyland Ltd, as the Chairman of the Board and the company with effect from October 1, 2023, up to the conclusion of his term of appointment on January 22, 2027.
On the bourses, the Asian Paints stock ended in red at a price of Rs 3,402.05 after opening at Rs 3,554.75. On Monday, the scrip had closed at Rs 3,542.10.
–IANS