Grasim advances after strong Q3 result

Grasim Industries gained 2.64% to Rs 751.30 at 15:22 IST on BSE after consolidated profit after tax surged 76% to Rs 958 crore on 22% rise in net revenue to Rs 18419 crore in Q3 December 2018 over Q3 December 2017.

The result was announced during market hours today, 7 February 2019.

Meanwhile, the S&P BSE Sensex was down 58.05 points or 0.16% at 36,917.18

On the BSE, 1.47 lakh shares were traded on the counter so far as against the average daily volumes of 66,000 shares in the past two weeks. The stock had hit a high of Rs 757 and a low of Rs 731.05 so far during the day.

 

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 11% to Rs 2958 crore in Q3 December 2018 over Q2 September 2018.

Grasim Industries said that the total capex plan of about Rs 7627 crore (at a standalone level) is under execution for raising capacities in both the VSF and chemical businesses. This capital expenditure will be incurred over FY19-FY21. It will be majorly funded by internal accruals.

Grasim Industries has a leadership positions in cement, viscose staple fibre, financial services and chemicals businesses.

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