According to Nuvama, Asian Paints' Q3FY22 revenue growth could be 6% year-over-year (YOY), with an underlying YoY growth of 18%. The high starting point and October's precipitation, which dampened holiday demand, would keep volumes low.

For the quarter ending in December 2022, the company on January 19 disclosed a consolidated net profit of Rs 1,097 crore, an increase of 6.37 percent from the previous quarter. During the same period in the prior fiscal year, the firm had made a profit of Rs 1,031.29 cr.

Operational revenue was reported at Rs 8,636.74 cr, up 1.28 % from Rs 8,527.24 bn in the same period last year.

It turned out to be even worse than expected. The average forecast from brokerages firms predicted a rise in net profit of 8.7% to Rs 11,04 cr. from a year earlier and a rise of 40 percent sequentially. It was forecasted that revenue would increase by Rs 9,456 crore, or 10.9% year-over-year.

On a very elevated price hike base from the prior year, Asian Paints Managing Director & CEO Amit Syngle reported that the company's domestic Decorative Business had flat values and volume sales delivery for the quarter. "The prolonged monsoon in October also impacted retailing during the peak festival season; however, demand picked up in November and December, resulting in the double growth for the Interiors Business in December."

According to the company, the Auto OE and industrial and commercial markets drove the success of the industrial division. Meanwhile, international Business was a mixed bag, with expansion in the Middle East and Africa but a decline in South Asia due to currency fluctuations and other economic factors, particularly in Sri Lanka and Bangladesh.