New Delhi: Shares of Asian Paints on Tuesday jumped 6 per cent after the company reported an over twofold increase in its consolidated profit for the first quarter ended June 30, 2021.
The stock gained 6.04 per cent to close at Rs 3,159.20 on the BSE. During the day, it zoomed 6.66 per cent to Rs 3,178 — its 52-week high.
On the NSE, shares of the company jumped 5.46 per cent to close at Rs 3,145.05.
In terms of traded volume, 2.62 lakh shares were traded at the BSE and 67.55 lakh units at the NSE during the day.
Asian Paints on Tuesday reported an over twofold increase in its consolidated profit to Rs 574.30 crore for the first quarter ended June 30, 2021, on account of higher revenue from operations.
The company had posted a profit of Rs 219.61 crore during the April-June quarter of the previous fiscal.
Its revenue from operations during April-June 2021 jumped 91.1 per cent to Rs 5,585.36 crore as against Rs 2,922.66 crore in the same period previous fiscal, Asian Paints said in a regulatory filing.
Asian Paints Managing Director and Chief Executive Officer Amit Syngle said, “The domestic decorative business more than doubled its volume and delivered stellar revenues over the lower base of last year which had suffered from the first nationwide lockdown.