Grasim Q3 net dips 40% to Rs 332 crore

Grasim Industries today reported a 39.55 per cent decline in its net profit at Rs 331.93 crore for the October-December quarter on higher raw material and finance costs.

The Aditya Birla Group company, which has interests in cement, viscose staple fibre and others, had clocked Rs 549.17 crore consolidated net profit for the same period a year ago.

Total income of the company rose to Rs 7,120.47 crore during the quarter as against Rs 6,779.54 crore a year earlier.

Total expenses, at the same time, moved up to Rs 6,449.65 crore from Rs 5,791.87 crore due to higher raw material costs that went up to Rs 1,767.08 crore from 1,577.88 crore in the year-ago period.

Finance costs also increased to Rs 124.86 crore from Rs 82.26 crore. There was also a Rs 123 crore additional outgo on other expenses at Rs 1,125.47 crore during the quarter.