Grasim Industries Ltd. reported June quarter consolidated net profit dropped 25% to ₹1,189 crore compared with ₹1,576 crore in the year ago period.
This drop was due to higher depreciation and interest charges on account of new growth businesses, the company said in a filing.
Consolidated revenue for Q1 FY25 stood at ₹33,861 crore a rise of 9% YoY, driven by “strong performance from its diversified businesses portfolio,” the company said.
Cellulosic Staple Fibre, building materials and financial services business performed well, the firm added.
Grasim’s cement business added new capacity of 8.7 million TPA, taking total grey cement capacity (domestic and overseas) to 154.9 million TPA.
Birla Opus, the company’s paints business enhanced market presence to more than 3,300 cities and towns, the firm said.
Grasim’s cement business added new capacity of 8.7 million TPA, taking total grey cement capacity (domestic and overseas) to 154.9 million TPA.
Birla Opus, the company’s paints business enhanced market presence to over 3,300 cities and towns, the firm said. The financial services business’s total lending portfolio crossed ₹1,25,000 crore, a rise of 27% YoY, it added.
Consolidated EBITDA was lower by 4% at ₹4,760 crore. “This was driven by investments in the paints business - a reflection of Grasim’s commitment to build strong consumer-facing businesses from scratch, the results of which are in line with expectations,” the company said.
Published - August 09, 2024 09:48 pm IST
