Grasim Q1 net surges fourfold to ₹2,412.32 cr.

Revenue rises 53% to ₹19,919.40 crore

Grasim Industries Ltd.’s first quarter consolidated net profit surged more than fourfold to ₹2,412.32 crore .

Consolidated revenue rose 53% YoY to ₹19,919 .40 crore, it said.

Standalone revenue increased almost tripled to ₹3,763 crore. Profit after tax stood at ₹482 crore against a net loss of ₹283 crore, the company said in a filing

Revenue and EBITDA from discontinued operations (fertiliser business) for Q1FY22 stood at ₹687 crore and ₹56 crore compared with ₹605 crore and ₹72 crore respectively.

“The second wave of COVID-19 slowed down the pace of economic activity, which was fast recovering,” the company said.

“However, with the accelerated pace of vaccination by the government and the receding impact of the second wave, the economy is witnessing a strong rebound,” it added.

The company said under VSF business, the share of value-added products in the overall sales mix improved to 26% in Q1FY22 from an average of 22% in FY21.

Grasim said for FY22, the company had planned capital expenditure of ₹2,604 crore, excluding paints and fertilizer business.

Source: Read Full Article