💨 Abstract

Asian Paints, India's largest paint manufacturer, reported a 23% drop in third-quarter net profit, falling slightly short of analyst estimates. However, stronger-than-expected volume growth in the domestic decorative business boosted its shares by 5%. The company's revenue also dropped by 6%. The competition has increased due to Grasim Industries' entry, and consumers have been opting for cheaper private labels due to inflation.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖