By Vineet Kumar 
in Q2 FY24, Asian Paints posted a 53% year-on-year rise in net profit, reaching Rs 1,232 crore, attributed to improved EBITDA margins of 20.2%, up from 14.4% last year, primarily due to lower raw material costs. However, the revenue remained nearly flat at Rs 8,478 crore, missing analyst projections. This stagnation stemmed from flat value growth in the domestic decorative paints segment, influenced by a delayed festive season and erratic monsoons that affected consumer sentiment. International sales faced challenges, particularly in South Asia and Egypt, which saw a 3.9% dip. Despite this, constant currency revenue rose by 1.9%, and industrial business segments showed growth.
The company declared an interim dividend of Rs 5.15 per share, with November 3 as the record date. Asian Paints expects improved demand in the second half of the fiscal year, bolstered by the longer festive season and anticipated economic recovery in India
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