You are here: Home » Companies » Results
Business Standard

Grasim Industries Q2 net profit increased 3.30% at Rs 1,521.40 crore

Aditya Birla Group firm GrasimIndustries Ltd on Thursday reported a 3.30 per cent increase in consolidated net profit at Rs 1,521.40 crore for the second quarter ended September 2020.

Grasim Industries | Aditya Birla Group

Press Trust of India  |  New Delhi 


firmGrasimIndustries Ltd on Thursday reported a 3.30 per cent increase in consolidated net profit at Rs 1,521.40 crore for the second quarter ended September 2020.

The company had posted a net profit of Rs 1,472.77 crore during the July-September quarter of the previous fiscal,GrasimIndustries said in a regulatory filing.

Its revenue from operations was flat at Rs 18,400.25 crore during the quarter under review as against Rs 18,400.17 crore in the corresponding period of the previous fiscal.

GrasimIndustries total expenses were at Rs 16,410.82 crore in Q2/FY 2020-21 as against Rs 17,039.30 crore in the year-ago period, down 3.68 per cent.

"The economy has been on the recovery path post relaxation of COVID-19 induced lockdown. It has been a resilient September quarter for Grasim due to strong recovery in demand and the government working relentlessly to support home-grown businesses by injecting doses of fiscal and monetary stimulus on a timely basis," the company said in a post-result statement.

Revenue of from viscose - pulp, viscose staple fibre and filament yarn segment declined 30.95 per cent to Rs 1,678.54 crore in Q2/FY2020-21 as against Rs 2,431.04 crore a year ago.

"The textile markets in India and overseas are witnessing a turnaround with COVID-19 related restrictions being phased out by the respective governments. The unlock measures across the country have led to a steady increase in consumer spending, which is expected to get further uplifted with the onset of festive season," it said.

Revenue from cement business UltraTech was up 7.68 per cent at Rs 10,354.21 crore as against Rs 9,615.12 crore in the corresponding quarter of previous fiscal.

"The company's strong quarterly performance is on the back of operational efficiencies and its ability to serve all India markets. UltraTech reported robust operating margins at 27 per cent driven by both revenue growth and tight cost management," it said.

While revenue from chemicals segment fell 16.41 per cent to Rs 1,125.88 crore as against Rs 1,346.96 crore in the first quarter of 2019-20.

"The excess supply of caustic soda has resulted in prices weakening to below USD 250 level (South East Asia). The Net Revenue for Q2FY21 stood at Rs 1,126 crore and EBITDA stood at Rs 187 crore," it said.

However, revenue from financial services segment - Aditya Birla Capital was up 16.29 per cent to Rs 4,578.71 crore as against Rs 3,937.27 crore a year ago.

Shares ofGrasimIndustries on Thursday settled at Rs 827 apiece on the BSE, up 2.97 per cent.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, November 12 2020. 19:15 IST