Asian Paints stock up
Asian Paints Ltd on Wednesday reported an 81.13 percent jump in its consolidated net profit to Rs 869.89 crore for the fourth quarter ended March 31, 2021, helped by volume growth in the domestic as well as in the international market.
The company had posted a net profit of Rs 480.25 crore during the January-March quarter of the previous fiscal, Asian Paints said in a regulatory filing.
Its revenue from operations was up 43.49 percent at Rs 6,651.43 crore during the quarter under review as against Rs 4,635.59 crore in the corresponding period of the previous fiscal.
Commenting on the results, Asian Paints Managing Director & CEO Amit Syngle said: “We have seen a very strong quarter aided by good demand across rural and urban areas at the country level.”
Oil prices fall
Oil prices fell about 3 percent as India’s coronavirus crisis deepened and a key US fuel pipeline resumed operations, reported Reuters.
Brent crude ended the session down $2.27, or 3.3 percent, at $67.05 a barrel, after rising 1 percent on Wednesday. West Texas Intermediate (WTI) settled $2.26, or 3.4 percent lower at $63.82 a barrel.
Fuel prices at record high
Maintaining its rising trend, petrol and diesel prices on Friday were hiked after a gap of a day. Petrol price was hiked by a steep 29 paise per litre and diesel by 34 paise a litre, according to a price notification by state-owned fuel retailers.
After today’s hike, petrol prices in Delhi rose to Rs 92.34 per litre against Rs 92.05 on Thursday, while diesel price soared to Rs 82.95 per litre as compared to Rs 82.61 a litre on Thursday.
Rates have been increased across the country and differ from state to state depending on the incidence of value-added tax.
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