Grasim Industries Ltd., a chlor-alkali manufacturer based in India announced its results for the second quarter ended September 30, 2021.
Q2 Results- QoQ
The company’s net profit declined 18.5% to Rs 13.59 billion for the period ended September 30, 2021 as against net profit of Rs 16.67 billion for the previous quarter.
Net sales increased 13% to Rs 228.17 billion during the period ended September 30, 2021 as compared to Rs 201.89 billion during the previous quarter.
Q2 Results- YoY
The company’s net profit grew 40.7% to Rs 13.59 billion for the period ended September 30, 2021 as against net profit of Rs 9.66 billion for the previous quarter.
Net sales increased 25.7% to Rs 228.17 billion during the period ended September 30, 2021 as compared to Rs 181.52 billion during the previous quarter.
Half-Year Results- YoY
The company’s net profit grew 152.1% to Rs 30.26 billion for the 6 months period ended September 30, 2021 as against net profit of Rs 12 billion for the prior-year 6 months period.
Net sales increased 36.2% to Rs 430.07 billion during the 6 months period ended September 30, 2021 as compared to Rs 315.79 billion during the prior-year 6 months period.
“The demand momentum picked up in Q2FY22 and has continued thereafter across all businesses. Backed by strong demand, realisation and volumes have improved in key businesses, offsetting the cost increase”, the company said.
“While chlorine realisation turned marginally negative for the quarter due to weak end-products demand, caustic soda prices in India recovered from multi-quarter lows”, said the company.
Grasim Industries Ltd is engaged in the business of manufacture and selling caustic soda, epoxy resins and fertilizers.