Shares of leading paint maker Asian Paints rose as much as 11 per cent to hit an intraday high of ₹ 2,839 on the BSE after it reported jump of 81 per cent in standalone net profit for quarter ended March 2021. Asian Paints net profit came in at ₹ 820 crore compared with ₹ 452 crore during the same quarter last year. Its revenue from operations advanced 46 per cent to ₹ 5,671 crore as against 3,879 crore in the corresponding period a year ago.

”The domestic decorative business delivered a stellar performance registering a 48 per cent volume growth in the quarter, led by robust growth in the premium and luxury product range. The home improvement business also grew in a big way, registering record sales for the quarter aided by the foray into the home décor business,” said Amit Syngle, Managing Director & CEO, Asian Paints.

The Board of Directors recommended a final dividend of ₹ 14.50 per equity share (1450 per cent). The Company distributed first interim dividend of ₹ 3.35 per equity share (335 per cent) in November 2020 for FY 2020-21. Total dividend of ₹ 17.85 per equity share (1785 per cent) was distributed for FY 2020-21. The dividend payout ratio was 56.1 per cent for FY 2020-21, Asian Paints said in a stock exchange filing.

As of 12:57 pm, Asian Paints shares traded 9.2 per cent higher at ₹ 2,791, outperforming the Sensex which was down 0.02 per cent.