Published on 14/11/2017 3:55:12 PM | Source: Dion Global Solutions Ltd

Grasim Industries Q2 net profit down 3.00% at Rs 574.50 cr

The company reported standalone net profit of Rs 574.50 crore for the quarter ended September 30, 2017 as compared to Rs 592.27 crore in the same period last year, registering a year-on-year decline of 3.00 per cent. Net revenue of the company rose substantially by 62.23 per cent at Rs 4,037.27 crore in July-September quarter of this fiscal as against Rs 2,488.65 crore in the corresponding period last year. During July-September quarter, operating expenses increased by 66.05 per cent to Rs 3,252.11 crore from Rs 1,958.57 crore in year ago period. Other Income dipped by 18.61 per cent at Rs 268.78 crore versus (Sep'16 Rs 330.22 crore).

Operating Profit surged by 40.57 per cent to Rs 785.16 crore as against Rs 558.54 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 13.32 per cent in September quarter. Interest grew by 173.56 per cent y-o-y to Rs 42.73 crore, while Taxation increased by 28.06 per cent at Rs 216.39 crore (Sep'16 Rs 168.97 crore).