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Grasim ends lower after Q2 results

Capital Market 

Grasim Industries announced its Q2 2019 earnings during market hours today.

On a consolidated basis, Grasim Industries reported a net profit of Rs 1002 crore in Q2 September 2019 as against a net loss of Rs 1468 crore in Q2 September 2018. Net revenue rose 3% to Rs 18,430 crore while EBITDA increased by 7% to Rs 3,180 crore in Q2 September 2019 over Q2 September 2018.

Profit was driven by superior performance of the company's subsidiaries, UltraTech Cement and Aditya Birla Capital.

On standalone basis, the company reported a net profit of Rs 526.49 crore in Q2 2019 as against a net loss of Rs 1,186.66 crore in Q2 2018. Revenue from operations declined 6.3% to Rs 4,797.44 crore in Q2 September 2019 as against Q2 September 2018.

The company reported an exceptional loss of Rs 2283.35 crore in Q2 September 2018 due to investments made in Vodafone Idea.

At the standalone level, Q2 September 2019 profitability was impacted due to global weakening in prices of VSF and caustic soda.

Shares of Grasim Industries closed 0.64% lower at Rs 734.3 on BSE. Meanwhile, the Nifty 50 index closed 0.25% higher at 11,870.45.

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

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 14 2019. 16:48 IST