At Rs 1,164 crore, Grasim Industries' Q2 net profit increased by 15%

15 Nov 2023 , 10:40 AM

On November 13, 2023, Grasim Industries revealed its combined net profit for the quarter that concluded on September 30, 2023, which came to Rs 1,163.75 crore. This represents a 15.31% increase from Rs 1,009.17 crore during the same period the previous year.

According to an exchange notice from the business, its activities generated revenue of Rs 30,220.68 crore, up 9.95 percent from Rs 27,485.54 crore in the same quarter of the previous fiscal year.

The company’s EBITDA increased by 19% YoY to Rs 4,509 crore, mostly due to the contributions of UltraTech Cement and Aditya Birla Capital, two important subsidiaries.

EBITDA was Rs 1,354 crore and standalone sales was Rs 6,442 crore, respectively, down 4% and 21% year over year. The company observed that while the overabundance of caustic soda in the domestic market and lower realisations in accordance with the rapid decrease in worldwide pricing affected the overall standalone performance, pent-up Christmas demand led to volume improvements in the VSF business.

While export demand for the value chain remained poor from significant international markets, festive demand and inventory replenishment in the local value chain led to volume growth for its viscose business.

According to the company, higher input costs in the textile segment affected the performance of the linen sub-segment, while caustic soda sales volume climbed by 5% QoQ and 3% year over year in the chemicals industry.

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