Asian Paints profit falls 45%

ASIAN PAINTS, THE country's largest paints maker, posted a 45% year-on-year drop in profit in the fourth quarter, while margins remained under stress due to inflationary pressures and higher ad spends.

- VIVEAT SUSAN PINTO

The Mumbai-based company's consolidated net profit came in at ₹692.13 crore in the quarter ended March, missing Street estimates of ₹1,075 crore. The company also reported a one-time cost of ₹183 crore. The exceptional item of ₹183 crore includes an impairment loss of ₹77.8 crore on White Teak's goodwill and intangible assets, and ₹21.5 crore on Causeway Paints' goodwill, both acquisitions by the company. Additionally, there was a loss of ₹83.7 crore from the disposal of assets in In