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11 November 2021, Mumbai:
Grasim Industries on Friday reported a 180 percent year-on-year rise in net profit to Rs. 979.1 crore for the quarter ended September, which was sharply higher than Street’s estimate.
The company reported a 67 percent on-year rise in revenue from operations to Rs. 4,933 crore, which was also above analysts’ expectations.
The company’s operating performance in the quarter was strong as operating profit jumped 87 percent year-on-year to Rs. 1,504 crore aided by improvement in product realization for the company.
Grasim Industries said that it saw a recovery in prices of caustic soda while VSF prices also showed strength.
While the company saw a 51.7 percent on-year rise in total expenses to Rs. 4,94.4 crore, it managed to pass on most of it to end customers as reflected in the higher growth in. ET
(The news article has not been edited by DFU Publications staff)
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