Mumbai: Grasim Industries share price expected to be in focus on 18 November 2024 after the Aditya Birla Group flagship holding firm declared its Q2 Results of 2024-25. In its quarterly results, the company posted a 45.64 per cent decline in consolidated net profit at Rs 1,100.16 crore. The company said it was hit by its cement business. In the second quarter of 2023-24, it had declared a net profit of Rs 2,024.05 crore.
Grasim Industries share price ended at Rs 2,534.10 on November 14, 2024. The stock gained around 7 per cent in the last six months and nearly 31 per cent in the past 1 year.
Stock Market expert Arun Mantri said the Q2 results of Grasim Industries were below markets expectations. The share has also corrected from the recent highs indicating any further declines may be a opportunity to add on to the stock for short to medium term traders as the counter is still in the bullish territory on the technical charts, he added.
According to a regulatory filing by Grasim Industries, its revenue from operations appreciated 11.05 per cent to Rs 33,562.85 crore during the second quarter of this fiscal. It was at Rs 30,220.68 crore during the July-September quarter a year ago. Grasim Industries is the holding firm for group companies such as UltraTech, Aditya Birla Capital and Aditya Birla Renewables.
Grasim Industries Q2 2024-25 Highlights
Grasim Industries total expenses were 15.75 per cent higher in the September quarter to Rs 31,993.03 crore.
Total income (revenue from other sources) was up 11.31 per cent; it stood at Rs 33,958.21 crore.
Grasim’s revenue from its cellulosic fibre business went up by 6.07 per cent to Rs 4,125.19 crore.
The company in its financials informed that its revenue from building material business grew 3.25 per cent to Rs 16,682.75 crore as compared to Rs 16,156.14 crore in the second quarter of the last fiscal.
Grasim Industries’ revenue from other business, like textiles, renewables and insulators appreciated 2.13 per cent to Rs 777.37 crore.
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Grasim Industries share price to be in focus on November 18, 2024 (Monday). Grasim’s Q2 profit fell 46 percent to Rs 1,100 crore, dragged by UltraTech and higher interest depreciation. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
