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Grasim Industries fiscal Q1 profit climbs 11.3% YOY

Grasim Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 16.75 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 18.75 rupees per share.

EPS climbed 11.3% year over year from 15.05 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.83 billion rupees, a gain of 11.3% from 7.03 billion rupees in the prior-year period.

The normalized profit margin increased to 8.0% from 7.8% in the year-earlier period.

Total revenue increased 9.3% year over year to 98.46 billion rupees from 90.04 billion rupees, and total operating expenses increased 9.3% year over year to 81.06 billion rupees from 74.16 billion rupees.

Reported net income grew 7.3% year over year to 8.90 billion rupees, or 19.05 rupees per share, from 8.30 billion rupees, or 17.77 rupees per share.

As of Aug. 14, US$1 was equivalent to 64.09 Indian rupees.