Grasim Industries advanced 3.91% to Rs 3,521.70 at 09:41 IST on BSE after consolidated net profit rose 95% to Rs 650 crore on 13% growth in net revenue to Rs 9044 crore in Q3 December 2015 over Q3 December 2014.
The result was announced on Saturday, 30 January 2016.Meanwhile, the S&P BSE Sensex was up 25.58 points or 0.1% at 24,896.27
On BSE, so far 3,385 shares were traded in the counter as against average daily volume of 3,844 shares in the past one quarter. The stock hit a high of Rs 3,578.55 and low of Rs 3,469 so far during the day. The stock had hit a 52-week high of Rs 4,023.60 on 3 March 2015. The stock had hit a 52-week low of Rs 3,304 on 29 June 2015.
The large-cap company has equity capital of Rs 93.33 crore. Face value per share is Rs 10.
Grasim Industries' earnings before interest, taxation, depreciation, and amortization (EBITDA) rose 43% to Rs 1795 crore in Q3 December 2015 over Q3 December 2014.
Aditya Birla Chemicals (India) (ABCIL) has been merged with the company on 4 January 2016 from the appointed date of 1 April 2015. Therefore, the current quarter results are not comparable with corresponding previous quarter.
On like-for-like basis excluding ABCIL numbers, Grasim Industries' consolidated net profit rose 3% to Rs 650 crore on 4% growth in net revenue to Rs 9044 crore in Q3 December 2015 over Q3 December 2014. EBITDA rose 4% to Rs 1795 crore in Q3 December 2015 over Q3 December 2014.
With regard to future business outlook, Grasim Industries said that the cement demand is expected to pick up in the near term with the government's focus on infrastructure development, housing sector, smart cities, roads etc. The company is well positioned across the country to cater to the growth in demand, Grasim Industries said in a statement.
Grasim Industries' two main businesses are Viscose Staple Fibre (VSF) and cement.
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