Grasim Q3 results: Net profit rises 46% to Rs 522 cr

Grasim Industries on Monday reported 45.8 per cent year-on-year rise in its standalone net profit at Rs 522 crore in the quarter ending 31 December, 2021. The textile company had posted a net profit of Rs 358 crore in the year-ago period.

Meanwhile, the company's revenue from operations for the quarter came in at Rs 5,784.74 crore, up 56 per cent as compared to Rs 3,696.61 crore in the same quarter last fiscal.

On the consolidated basis, net profit from continuing operations stood at Rs 2,621.96 crore, up 23.09 per cent against Rs 2,130.10 crore in the same quarter last year.

The company's EBITDA rose 43.1 per cent to Rs 922 crore and its EBITDA margin also fell by 150 basis points to 15.9% as compared to quarter ending 31 December, 2020.

Grasim also stated that its net debt stands at zero with the completion of disinvestment of fertiliser business on 1st January 2022, on a standalone business.

Grasim's VSF and chemicals business registered higher realisations and volumes, which aided the growth in performance compared to last year.

It also stated that its net debt stands at zero with the completion of disinvestment of fertiliser business on January 1, 2022, on a standalone business.

Shares of the Aditya Birla group-owned company closed 4.21 per cent lower at Rs 1,638.30 apiece on BSE post quarterly results announcement on Monday.