Asian Paints, the country's largest manufacturer of paints, has witnessed a 66 % rise in its consolidated net profit in Q1 FY 10 at Rs 176 crore.

The company had posted a net profit of Rs 106 crore in the year-ago period.

However, its consolidated net sales increased by 17.5% to Rs 1,460-crore in the reporting quarter from Rs 1,242.6 crore in the year-ago period.

On a stand-alone basis, Asian Paints recorded a net profit of Rs 164.4 crore in Q1 FY 10, up 68% from Rs 98 crore in the year-ago period.

Further, company's net sales also grew 17% to Rs 1,164.8 crore from Rs 995 crore in the year-ago period.