BENGALURU: India’s leading paint manufacturer Asian Paints Ltd reported a lower-than-expected rise in third-quarter earnings on Thursday as weak demand offset the benefits of a correction in raw material costs.
The Mumbai-based company’s consolidated net profit rose 5.6 percent to 10.73 billion rupees ($131.90 million) in the three months ended December 31. Analysts had expected earnings of 11.60 billion rupees on average, according to data from Refinitiv IBES.
