Grasim Industries posts Q2 net profit at Rs 799 cr

Aditya Birla Group firm Grasim Industries Ltd today reported a consolidated net profit at Rs 799.03 crore for the September quarter.
The company had posted a net profit of Rs 1,089.63 crore during the same period previous fiscal, Grasim Industries said in a stock exchange filing.
The company said the results for the period are not comparable as it include the financials of Aditya Birla Nuvo Ltd (ABNL) and its subsidiaries post its merger with effect from July 1, 2017.
The results also include the cement plants acquired by Ultratech Cement from Jaiprakash Associates and Jaypee Cement Corporation.
Total consolidated income during the quarter stood at Rs 13,935.18 crore. It was Rs 9,668.54 crore in the July- September quarter of 2016-17.

The company said its EBITDA was up by 34 per cent at Rs 2,805 crore compared to Rs 2,098 crore in Q2 last fiscal.

Total expenses during the period were Rs 12,354.92 crore against Rs 8,186.11 crore in the year ago quarter.
On outlook, Grasim Industries said the VSF business will continue to focus on expanding the market in India by partnering with the textile value chain.
The demand for caustic Soda in India is expected to grow with rising consumption from the alumina and textile sectors, it said adding that in cement, government spending on infrastructure, rural and affordable housing will be the key demand drivers.

"In financial services, Aditya Birla Capital Ltd is well positioned to provide universal financial solution to meet customers money need for life," the company added.
Grasim Industries stock closed 1.06 per cent down at Rs 1,209.