India's Asian Paints slumps after Q2 volume growth disappoints

Berger Paints India

11/11/2024 03:52

Nov 11 (Reuters) - India's Asian Paints  ASPN.NS  fell
as much as 9.3% on Monday, after it reported a second-quarter
net profit on Saturday that nearly halved and a volume growth
that disappointed some analysts.
    The second-quarter results were a miss with sales below
industry peers, said Macquarie.
    The company's sales volumes, which declined 0.5%, were
weaker than that of other large peers such as Berger Paints'
 BRGR.NS  3.6% rise and Kansai Nerolac's  KANE.NS  4% overall
volume growth, said Morgan Stanley.  
    
    

 (Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane
Venkatraman)
 ((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))