Financial Daily from THE HINDU group of publications
Thursday, Jul 29, 2004
Financial Daily from THE HINDU group of publications Thursday, Jul 29, 2004 |
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Corporate Results
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Cement Grasim Q1 net rises 68 pc Our Bureau
Mumbai , July 28 HIGHER sales volumes and realisations in all of its businesses have helped Grasim Industries report a 68 per cent increase in net profit for the quarter ended June 30, 2004. Net profit for the quarter amounted to Rs 219 crore, up from Rs 130.5 crore reported for the corresponding quarter of the previous year. Realisation from the company's VSF business rose 6 per cent and from its cement business, 13 per cent for the quarter. Realisation for its sponge iron business rose 61 per cent, with realisation being marginally higher in its chemical business, according to a news release from the company. Net turnover rose 30.4 per cent to Rs 1,517 crore (Rs 1,163 crore). Profit before interest, depreciation and tax, at Rs 446.4 crore (Rs 286.6 crore) showed a 55.8 per cent increase. Interest declined by 15.8 per cent to Rs 32.9 crore (Rs 39.1 crore). Gross profit showed a 67 per cent increase to Rs 423 crore (Rs 247.5 crore) while depreciation rose marginally to Rs 69.8 crore (Rs 67 crore). Profit before taxes and exceptional items increased 90.4 per cent to Rs 343.7 crore (Rs 180.5 crore).
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