Asian Paints shares nosedive 9% after Q2 PAT slips 42% YoY

Shares of Asian Paints fell 9% to Rs 2,511.65 on Monday, following the company's announcement of a 42.5% year-on-year decline in its consolidated net profit for Q2 FY2024. The company's profit after tax (PAT) dropped to Rs 694.6 crore, compared to Rs 1,205.4 crore in the same quarter of the previous year, reflecting weak consumer sentiment.