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Grasim Industries fiscal Q2 profit climbs 84.1% YOY

Grasim Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 15.37 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 14.52 rupees per share.

EPS increased 81.1% year over year from 8.48 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.18 billion rupees, an increase of 84.1% from 3.90 billion rupees in the prior-year period.

The normalized profit margin increased to 8.7% from 4.6% in the year-earlier period.

Total revenue decreased year over year to 82.93 billion rupees from 83.93 billion rupees, and total operating expenses declined 6.7% year over year to 69.56 billion rupees from 74.53 billion rupees.

Reported net income increased 73.2% on an annual basis to 8.46 billion rupees, or 18.10 rupees per share, from 4.88 billion rupees, or 10.62 rupees per share.

As of Oct. 28, US$1 was equivalent to 66.80 Indian rupees.