Grasim Industries Q4 results: Net profit rises 15.5% to Rs 2,721.81 cr
Grasim Industries, a subsidiary of Aditya Birla Group, on Wednesday, reported a 15.5 per cent rise year-on-year (Y-o-Y) in the consolidated net profit to Rs 2,721.81 crore for the January-March quarter of the financial year 2023-24 (Q4FY24).
It clocked a profit of Rs 2,355.67 crore in Q4FY23, the company said in a regulatory filing.
Revenue from operations increased 13 per cent Y-o-Y to Rs 37,727.1 crore in Q4FY24, compared with Rs 4,873 crore in the corresponding period of previous year, the company said.
Consolidated earnings before interest, taxes, depreciation, and amortisation (Ebitda) for Q4FY24 stood at Rs 6,196 crore, recording a growth of 27 per cent Y-o-Y, according to the company’s press statement.
For the complete FY24, consolidated net profit stood at Rs 9,925.65 crore.
The consolidated revenue for FY24 reached an all-time high of Rs 1,30,978 crore, up by 11 per cent Y-o-Y, driven by underlying performance from its diversified businesses portfolio.
“The building materials and financial services businesses delivered a superior performance,” the company said.
Meanwhile, the board recommended dividend of Rs 10 per equity share for FY24.
The capital expenditures (Capex) for the year stood at Rs 20,199 crore of which growth capex was reported at Rs 16,817 crore, about 83 per cent of the total capex. The growth capex was largely focused on capacity expansion in the building materials businesses, according to the company.
Grasim Industries deals in the production of textile raw materials, including viscose staple fibre (VSF) and viscose filament yarn, as well as chemicals and insulators. Additionally, the company operates in the cement and financial services sectors through its subsidiaries, UltraTech Cement and Aditya Birla Capital, respectively.
First Published: May 22 2024 | 11:30 PM IST