July 24 (Reuters) - Asian Paints Ltd, India’s biggest paint maker by market capitalisation, on Tuesday reported first-quarter profit above analysts’ expectations, helped by double-digit volume growth in its decorative paint business.
Net profit rose about 31 percent to 5.58 billion rupees ($81.02 million) in the three months ended June 30 from 4.27 billion rupees a year earlier, the company said in a statement bit.ly/2JP1qZh.
Analysts on average had expected the Mumbai-based company to post a profit of 5.16 billion rupees, according to Thomson Reuters data.
Revenue from operations rose over four percent to 43.99 billion rupees.
$1 = 68.8750 Indian rupees Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Vyas Mohan