By Kosaku Narioka

Asian Paints Ltd. said its fourth-quarter net profit fell 2.1% from a year earlier due to lower sales stemming from the pandemic and broader weakness in the auto and real-estate industries.

Net profit for the quarter ended March 31 fell to 4.62 billion Indian rupees ($61.2 million) from INR4.72 billion a year earlier, the Indian paint company said.

Asian Paints said fourth-quarter revenue decreased 7.1% to INR46.36 billion from INR49.92 billion a year earlier.

The underlying sales trend remained strong for decorative business such as wall paints, the company said.

The downturn in the auto industry and slowdown in real-estate negatively affected the industrial and home improvement businesses, while the pandemic lockdown further weighed on overall sales, it said.

The company said its plants, warehouses and offices were shut during the lockdown in India to help contain the spread of coronavirus, but most operations have resumed. 



  Write to Kosaku Narioka at kosaku.narioka@wsj.com