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Grasim Industries fiscal Q2 profit climbs 32.8% YOY

Grasim Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 8.48 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 9.71 rupees per share.

EPS rose 32.8% year over year from 6.39 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.90 billion rupees, an increase of 32.8% from 2.94 billion rupees in the year-earlier period.

The normalized profit margin increased to 4.6% from 3.7% in the year-earlier period.

Total revenue increased 5.6% year over year to 83.93 billion rupees from 79.45 billion rupees, and total operating expenses increased from the prior-year period to 74.53 billion rupees from 71.75 billion rupees.

Reported net income increased 17.3% on an annual basis to 4.88 billion rupees, or 10.62 rupees per share, from 4.16 billion rupees, or 9.06 rupees per share.

As of Oct. 29, US$1 was equivalent to 65.42 Indian rupees.