Grindwell Norton Q1 PAT slips 4% YoY to Rs 93 cr

The abrasive products company reported 3.92% decline in consolidated net profit to Rs 93.18 crore in Q1 FY25 as against Rs 96.99 crore recorded in Q1 FY24.

However, revenue from operations grew by 5.57% year on year to Rs 705.60 crore in the quarter ended 30 June 2024.

Profit before tax in Q1 FY25 stood at Rs 125.41 crore, down 3.73% from Rs 130.27 crore reported in Q1 FY24.

During the quarter, the companys revenue from Abrasives was at Rs 349.40 crore (up 7.33% YoY) and income from Cermaics & Plastics revenue was at Rs 305.85 crore (up 8.58% YoY). On the other hand, Digital Services revenue was at Rs 45.58 crore (down 9.78% YoY) in Q1 FY25.

Grindwell Norton's businesses include abrasives, ceramic materials businesses (silicon carbide and performance ceramics & refractories), performance plastics and ADFORS. The company's subsidiary, Saint-Gobain Ceramic Materials Bhutan, manufactures silicon carbide. The Saint-Gobain Group currently holds 51.66% of the equity capital of GNO.

The scrip shed 0.74% to Rs 2,655.25 on the BSE.

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