Grasim Industries clocks many-fold jump in net profit at Rs 2,448 cr for Q1FY22
Noida: Aditya Birla Grp company Grasim Industries clocked many-fold jump in its consolidated net profit at Rs 2,448 crore for the first quarter of the current fiscal as compared to a net profit of Rs 617 crore in the same quarter of the previous fiscal.
The revenue from operations of the company jumped 53 percent at Rs 19,919 crore for the first quarter of the current fiscal as against Rs 13,044 crore in the same quarter of the previous fiscal, the company said in a regulatory filing.
The total expenses of the company were at Rs 16,853 crore, nearly 37 percent more than Rs 12,331 crore registered in the same quarter of the previous fiscal.
The revenue from the cement unit UltraTech Cement jumped 54 percent to Rs 11,830 crore as compared to Rs 7,671 crore in the same quarter of the previous fiscal.
In the latest quarter, the consolidated sales volume of UltraTech went up 47 percent to 21.53 million tonnes per annum (MTPA). "UltraTech witnessed YoY increase in the cost of production due to a rise in the energy, raw material and logistics cost during Q1FY22," the company said.
The second wave of COVID-19 slowed down the pace of economic activity, which was fast recovering. However, with the accelerated pace of vaccination by the government and the receding impact of second wave, the economy is witnessing a strong rebound," said Grasim in a statement.