Grasim Q1 results: Net profit declines 56%, revenue 14% on high base last year

Grasim Q1 result: Net profit declines xx% to Rs crore

Aditya Birla group flagship Grasim Industries reported a 56 percent slump in net profit to Rs 355.3 crore for the quarter ended June, with a decline of 14 percent in revenue to Rs 6,237.6 crore.

The company's net profit surpassed estimates but revenue fell short of expectations.

Three brokerage firms covered by Moneycontrol had estimated a 70 percent on-quarter rise in the company's net profit to Rs 159.37 crore, and an 80 percent crash over last year's bottomline because of high base.

Revenue for the quarter under review was expected to decline about 4 percent on-quarter and 12 percent on-year to Rs 6,415.13 crore.

EBITDA (earnings before interest, tax, depreciation and amortisation) tanked 49 percent on-year to Rs 674 crore. Its operating margin shrunk to 10.8 percent in the quarter under review, from 18.2 percent a year ago.