Grasim Industries Q2 Results: Net profit slumps 66% to ₹390 crore dragged by renewable biz, revenue up 11% YoY | Stock Market News
Source: Live Mint
Grasim Industries reported a 66% fall in its consolidated net profit at ₹390 crore in the second quarter, compared with ₹1,164 crore in the last year quarter. Revenue from operations, meanwhile, rose 11% YoY to ₹33,563 crore in the reporting period. Grasim’s standalone numbers exclude earnings of its units UltraTech Cement and Aditya Birla Capital.
The company’s paints division, launched earlier this year under the Birla Opus brand, has hurt its margins as the company continues to invest in the business.
Moreover, paint makers saw weak demand as the country saw above-average monsoon rainfall during the quarter, which impacted sales.
