Grasim Industries, an Aditya Birla Group Company, reported a phenomenal jump of 612% in its consolidated net profit to Rs 16,670 million for the quarter ended June 30. It had posted a net profit of Rs 2,340 million for the corresponding period a year ago.
Consolidated revenue rose by 53% to Rs 199,190 million in the June quarter from Rs 130,440 million in the year-ago period.
The company's EBITDA was at Rs 47,360 million in the quarter ended June, an increase of 86% YoY.
The second wave of COVID-19 slowed down the pace of economic activity, which was fast recovering. However, with the accelerated pace of vaccination by the Government and the receding impact of 2nd wave, the economy is witnessing a strong rebound.
Standalone revenue for Q1FY22 was at Rs 37,630 million. EBITDA at Rs 8,050 million and PAT at Rs 4,820 million significantly higher on a YoY basis.
Revenue and EBITDA from the discontinued operations (Fertiliser Business) for Q1FY22 stood at Rs 6870 million and Rs 560 million. (Q1FY21: Rs 6,050 million and Rs 720 million) respectively. The Fertiliser Business divestment process is expected to be completed by Q2FY22.
Shares of the company gained Rs 5.25, or 0.35%, to settle at Rs 1,497.60. The total volume of shares traded was 121,450 at the BSE (Friday).
