(Reuters) - India’s Asian Paints Ltd posted a 21 percent rise in second-quarter profit on Tuesday, beating estimates.
Profit rose to 5.76 billion rupees ($88.58 million) in the three months ended Sept. 30, from 4.76 billion rupees a year earlier, the Mumbai-headquartered company said. bit.ly/2gzlm6g
Analysts on average had expected a profit of 5.17 billion rupees, Thomson Reuters data showed.
Revenue from operations rose 2.3 percent to 42.74 billion rupees.
Shares of the company were up 4.6 percent as of 0932 GMT.
($1 = 65.0225 Indian rupees)
Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Biju Dwarakanath