Grasim Industries Q2 Results: PAT falls 66% YoY to Rs 390 crore, revenue rises 11%
Grasim Industries, the flagship company of Aditya Birla Group, on Thursday reported a 66% fall in its consolidated net profit at Rs 390 crore in the second quarter, compared with Rs 1,164 crore in the last year quarter.
Revenue from operations, meanwhile, rose 11% YoY to Rs 33,563 crore in the reporting period.
EBITDA for the quarter dropped 10% YoY to Rs 4042 crore in the reporting quarter.
The operating profit declined as a result of lower profitability in the Cement business and initial investments in the Paints business under brand ‘Birla Opus’.
«The results are in line with our plan to build a strong consumer-facing business. Further, higher interest and depreciation charges on account of investments in the Building Materials and Renewables businesses has led to lower PAT,» Grasim said in a filing.
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