Grasim Industries sees profit tumble QoQ

Grasim Industries Ltd, which owns UltraTech Cement, has reported unaudited standalone total income from continuing operations of INR62,983.1m (US$760.4m) in the quarter ended 31 December 2022. This compares to INR75,007.5m in the previous quarter and INR58,252.9m in the same period a year earlier.

Net profit advanced from INR5224.7m in the quarter ended 31 December 2021 to INR9643m in the quarter ended 30 September 2022, before falling to INR2573.6m in the latest quarter ended 31 December 2022. Basic earnings per share over the same period improved from INR7.45 to INR14.68 before contracting to INR3.93. 

In the nine months ended 31 December 2022, total income came in at INR210,858m, up from INR152,883.6m in the same period a year earlier. Net profit in the December 2022 quarter stood at INR20,302.2m, compared to INR19,832.6m in the same quarter of 2021, while basic earnings per share improved from INR28.66 to INR30.92 over the same timeframe.