Q3 Results: Grasim Industries Profit Jumps, Margin Contracts
Grasim Industries Ltd. quarterly profit rose even as its margin contracted in the three months ended December.
Net profit jumped 28 percent year-on-year to Rs 608 crore in the quarter ended December, the Aditya Birla Group company said in an exchange filing.
- Revenue jumped 21 percent to Rs 5,292 crore.
- Operating profit or earnings before income, tax, depreciation and amortisation rose 19 percent to Rs 1,052 crore.
- Operating margin contracted 30 basis points over a year earlier to 19.8 percent.
- Revenue from chemical business rose 19 percent to Rs 1,559 crore.
- Revenue from viscose business and UltraTech Cement jumped 20 percent each to Rs 2,617 crore and Rs 9,390 crore, respectively
- Cement sales volume grew 15 percent to 19.4 million tonnes per annum.
- Looking to raise capacity in both viscose staple fibre and chemical businesses.
- Expects total capital expenditure to be around Rs 7,627 crore over financial years 2019-21
Shares of Grasim Industries rose as much as 2.7 percent to Rs 753.50 after the results announcement.