Asian Paints shares tank over 5% to Rs 1,139; market-cap drops by Rs 6,008 cr post Q2 results

New Delhi: Shares of Asian Paints Tuesday fell over 5 percent after the company reported a 14.76 percent fall in its consolidated net profit for the September quarter.

The scrip tanked 5.21 percent to close at Rs 1,138.80 on the BSE. Intra-day, it dropped 6.81 percent to Rs 1,119.60.

The stock was the worst performer among the BSE's 30-pack.

Representational image. Reuters.

Representational image. Reuters.

On the NSE, shares of the company slumped 4.82 percent to end at Rs 1,142.45.

As a result, Asian Paints' market valuation tumbled by Rs 6,008.56 crore to Rs 1,09,233.44 crore on the BSE.

In terms of equity volume, 6.69 lakh shares of the company traded on the BSE and over 82 lakh shares changed hands on the NSE during the day.

Asian Paints on Monday reported a 14.76 percent fall in its consolidated net profit at Rs 506 crore for the September 2018 quarter.

The company had posted a net profit of Rs 593.66 crore in the July-September quarter a year ago.

However, its total income moved up by 8.66 percent to Rs 4,702.37 crore during the quarter under review as against Rs 4,327.58 crore in the corresponding quarter of the previous year.

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Updated Date: Oct 23, 2018 18:16:39 IST

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