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Grasim Industries fiscal Q1 profit climbs 80.1% YOY

Grasim Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 15.05 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 16.80 rupees per share.

EPS increased 77.2% year over year from 8.49 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.03 billion rupees, a gain of 80.1% from 3.91 billion rupees in the prior-year period.

The normalized profit margin rose to 7.8% from 4.5% in the year-earlier period.

Total revenue grew on an annual basis to 90.04 billion rupees from 85.99 billion rupees, and total operating expenses declined year over year to 74.16 billion rupees from 75.85 billion rupees.

Reported net income grew 71.3% from the prior-year period to 8.30 billion rupees, or 17.77 rupees per share, from 4.85 billion rupees, or 10.54 rupees per share.

As of Aug. 11, US$1 was equivalent to 66.73 Indian rupees.