Grasim experienced a financial downturn in the first quarter ending June 2024, as the company announced a loss of Rs 52.12 crore on Friday. In contrast, the same period last year saw a net profit of Rs 355 crore. Nevertheless, when compared sequentially, the loss has decreased from Rs 441 crore reported in the previous quarter.
Grasim Industries announced on Friday a standalone net loss of ₹52.12 crore for the quarter ending June 2024, in contrast to a net profit of ₹355.27 crore recorded in the corresponding quarter of the previous year. The company, part of the Aditya Birla Group, had previously reported a net loss of ₹440.93 crore for the quarter ending March 2024.
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At 2:10 PM on August 9, shares of the Aditya Birla Group company were trading at Rs 2,578.55 each on the BSE, reflecting an increase of 1.8 percent.
Grasim Industries, a subsidiary of the Aditya Birla Group, announced a standalone loss of Rs 52 crore for the quarter ending in June, contrasting with a standalone net profit of Rs 355 crore recorded in the same quarter of the previous year. Analysts had anticipated that rising interest and depreciation costs, coupled with losses from the newly established paints division, would negatively impact the margins for the first quarter.
The company’s standalone revenue reached Rs 6,894 crore, reflecting a 10.5 percent increase compared to the prior year, as reported in an exchange filing on August 9.
In the first quarter of FY25, Grasim Industries reported a 10.5% increase in revenue from operations, rising to ₹6,893.87 crore compared to ₹6,237.55 crore in the same period last year. On a consolidated basis, the revenue for the first quarter of FY25 reached ₹33,860.7 crore, reflecting a 9% year-on-year growth, supported by robust performance across its diverse business portfolio.
The performance of Grasim Industries in the last quarter
Grasim Industries Ltd has announced a notable rise in its consolidated net profit for the fourth quarter ending March 2024. The company’s net profit increased by 15.54%, reaching Rs 2,721.81 crore, compared to Rs 2,355.67 crore during the same quarter of the prior year. This growth is primarily attributed to robust performances in its cement and financial services divisions.
Additionally, the revenue from operations grew by 12.74%, amounting to Rs 37,727.13 crore, in contrast to Rs 33,462.14 crore in the equivalent period of the previous fiscal year. The consolidated EBITDA of the company achieved a record high of Rs 6,196 crore, reflecting a 27% increase year-on-year.
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