Aditya Birla Group firm Grasim Industries has reported a 27.36 per cent increase in its consolidated net profit at Rs 2,032.41 crore for the second quarter ended in September 2021. The company had posted a net profit of Rs 1,595.85 crore in the corresponding previous quarter.
Revenue from operations was up 25.71 per cent at Rs 22,564.22 crore from Rs 17,949.53 crore a year ago.
Total expenses were at Rs 19,863.82 crore, up 24.16 per cent from Rs 15,998.90 crore a year ago.
“The demand momentum picked up in Q2FY22 and has continued thereafter across all businesses. Backed by strong demand, realisation and volumes have improved in key businesses, offsetting the cost increase,” Grasim Industries said in a statement.
Flat profit at CIL
State-owned CIL has reported an almost flat consolidated net profit of Rs 2,936.91 for the September quarter against Rs 2,948.12 crore in the corresponding quarter last year.
Consolidated revenue from operations during July-September 2021 increased to Rs 23,291.08 crore from Rs 21,153.07 crore in the year-ago period.
Hero Moto net dips
Two-wheeler maker Hero MotoCorp’s consolidated net profit declined 22 per cent to Rs 747.79 crore in the second quarter ended September 30, 2021, impacted by lower sales.
The company, which posted a consolidated net profit of Rs 963.82 crore in the same period last fiscal, said its electric vehicle project is in advanced stages and is gearing up to launch the first product by March 2022.
Consolidated revenue from operations was at Rs 8,538.85 crore against Rs 9,473.32 crore a year-ago.
