Financial Daily from THE HINDU group of publications
Friday, Oct 29, 2004
Financial Daily from THE HINDU group of publications Friday, Oct 29, 2004 |
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Corporate Results
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Cement Better realisations boost Grasim net Our Bureau
Mumbai , Oct. 28 GRASIM Industries has reported an 8.35 per cent in net profit (after exceptional items) for the second quarter of the current fiscal; and a 23.3 per cent increase in net profit before exceptional items. The increase in the latter figure was due to an all-round good performance by the company in all its businesses, with higher production, sales volumes and realisations across segments, although tax outgo was markedly higher during the quarter, said Mr D.D. Rathi, whole-time director, at a news conference here today. Net profit for the quarter amounted to Rs 219.94 crore, as against Rs 202.98 crore for the corresponding quarter of the previous year. The current quarter showed Rs 5.21 crore as profit from sale of investment under extraordinary items, while the corresponding figure for the previous year was Rs 28.89 crore. Excluding these exceptional items, net profit for the quarter was 23.3 per cent higher, amounting to Rs 214.7 crore (Rs 174.1 crore). Net turnover rose 26.4 per cent to Rs 1,528.2 crore (Rs 1,184.7 crore). Other income was considerably lower at Rs 27.58 crore (Rs 66.54 crore). Net profit for the half-year ended September 30, amounted to Rs 439.11 crore (Rs 333.47 crore) showing a rise of 31.6 per cent. Net turnover, for the half year rose 30 per cent to Rs 3,045 crore (Rs 2,348 crore).
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