Grasim Industries consolidated Q1 net lower at Rs 1,576.47 crore

Chennai, (IANS) Aditya Birla group’s Grasim Industries Ltd closed the first quarter with a higher consolidated revenue and a lower net profit.

In a regulatory filing, the company said for the quarter ended June 30, 2023, it had earned operational revenue of Rs 31,065.19 crore (against Q1FY23’s Rs 28,041.54 crore) and an after tax profit of Rs 1,576.47 crore (Rs.1,933.39 crore).

On a standalone basis the company’s operational revenue for the period under review stood at Rs 6,327.5 5 crore (Q1FY23 Rs.7,253.04 crore) and an after tax profit of Rs 355.27 crore (Rs.808.56 crore).

The company said the total capex spent for Q1FY24 stood at Rs1,384 crore of which Rs1,046 crore was spent for the paints business. The budgeted capex for FY24 stands at Rs 5,791 crore with Rs 4,342 crore earmarked for paints and B2B E-commerce.

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