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Grasim Records A 69.9 Per Cent Surge In Its Profit In Q1

Grasim reported a 67.9 per cent rise in first-quarter standalone profit to Rs 886 million from Rs 481.6 million in the same period last year.

Photo Credit : Agencies

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Grasim, on Friday, reported a 67.9 per cent rise in first-quarter standalone profit to Rs 886 million from Rs 481.6 million in the same period last year.


The company's revenue for the June quarter was Rs 7,253 billion, up 92.8 per cent year-on-year. On a consolidated level, Aditya Birla Group's net profit increased by 14 per cent to Rs.193,339 crore from Rs.1,667.3 crore for the same period last year.


Consolidated turnover increased by 14% year-on-year to Rs 2,804.2 billion. Grasim's EBITDA increased by 78.4% to Rs 1,320 billion in the quarter, while its operating profit margin reached 18.61% from 20.01% in the same period last year.


By segment, Grasim's viscose (fibers and yarns) business generated revenue of Rs 429.988 billion in the first quarter, compared with Rs. 210.276 billion in the same period last year. The chemical unit's turnover also improved to Rs. 2,733.3 crores from Rs.1,436.48 crore in the same period last year.


Underlying Earnings Per Share or EPS improved year-on-year from Rs. 7.33 to Rs.12.31 but continued to decline from Rs.16.26. The company has also announced a venture into the B2B e-commerce platform for the building materials segment, investing around Rs 200 crore over the next five years.