India's Asian Paints extends decline on surprise quarterly profit fall

Asian Paints

28/01/2026 04:19

** Shares of Asian Paints ASPN.NS slides 6% to 2,466.6 rupees

** Shares fell 3% on Tuesday after company posted surprise profit drop

** Consol net profit fell 4.5% to 10.6 billion rupees ($115.69 million) for the Dec quarter

** Profit was impacted by one-time charge of 1.58 billion rupees tied to the country's new labour laws, outweighing strong volume growth in its mainstay decorative paint segment

** UPS ("Neutral"; PT: 2,900 rupees) says demand remained soft due to extended monsoon and an early Diwali pushing festive buying into the previous quarter

** Brokerage says the company aims for volume growth of 8% to 10% in the coming quarters

** Stock rated as "hold" on average by 32 analysts; median PT at 2,723 rupees - LSEG data

** Stock rose 21.4% in 2025

($1 = 91.6230 Indian rupees)

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))