January 22, 2019 / 9:07 AM / 4 months ago

Asian Paints third-quarter profit jumps 14.6 percent, beats estimate

(Reuters) - India’s Asian Paints Ltd posted a 14.6 percent rise in third-quarter net profit on Tuesday, beating estimate, buoyed by strong performances in its paints manufacturing vertical.

Net profit came in at 6.36 billion rupees ($89.16 million) in the three months ended Dec. 31, 2018 compared with the 5.55 billion rupees a year earlier.

Analysts on average had expected a profit of 6.14 billion rupees, according to Refinitiv Eikon data.

Revenue surged 24 percent to 52.94 billion rupees.

($1 = 71.3360 rupees)

Reporting By Arnab Paul in Bengaluru, Editing by Sherry Jacob-Phillips

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