Grasim Industries posts Q2 profit of Rs799 crore

Angelo Anderson
November 14, 2017

Aditya Birla Group firm Grasim Industries Ltd on Tuesday reported a consolidated net profit at Rs799.03 crore for the September quarter.

Net interest income-the difference between interest earned and expended-was up by 8.58 per cent from a year ago to Rs 3,720 crore.

Accordingly, it has provided Rs. 145.4 crore, it said in its notes on accounts.

Revenue from operation of the company jumped 2.64 per cent year-on-year to Rs 12,409.65 crore during the quarter under review against Rs 12058.48 crore in the same quarter last year.

In absolute value, gross NPAs were Rs 46,306.83 crore during the quarter against Rs 42,949.25 crore.

The bank's asset quality worsened further in the September quarter of the current fiscal. The company had reported a net profit of Rs 61.85 crore in the same period previous year.

The deposits stood at Rs 5.83 lakh crore by end of second quarter, 2017-18 against Rs 5.67 crore.

Earnings from natural gas marketing rose 27 per cent to Rs 419.74 crore while the same from petrochemical business almost halved to Rs 88.81 crore.

The company's stock closed 7.94 per cent up at Rs 154.95 apiece on BSE today.

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