Grasim posts 1.8% surge in profit for Sept quarter

Grasim Industries on Monday posted a surge of 1.8 per cent in its standalone net profit to Rs 964 crore for the quarter that ended September, against Rs 947 crore in the year-ago period.

The Mumbai-headquartered flagship company of the global conglomerate Aditya Birla Group said its revenue grew 36.7 per cent to Rs 6,745 crore in the quarter under review, compared to Rs 4,933 crore during the corresponding quarter in the previous year.

The company mentioned that exceptional items were included in the results such as interest payable on custom duty, which the company provided, to pay customs duty on the import of capital goods cleared at zero duty under the Export Promotion Capital Goods (EPCG) scheme in earlier years and a provision of Rs 69.11 crore made against disputed water charges pertaining to earlier years.

The operating profit or Ebitda went up 19.4 per cent to Rs 954 crore against Rs 801.5 per cent in the year-ago period.

The company also said the margin was 14.2 per cent against 16.2 per cent, a drop of 200 basis points over the previous year's.

The company's shares went up 2.36 per cent and were trading at Rs 1,747.50 apiece on BSE. During the past five days, it had declined Rs 35.85 points, a drop of 2.01 per cent, on BSE.

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