Grasim Shares Gain As Q1 Profit Beats Estimates
The company said it has posted a record-high revenue and operating Ebitda figure.
Shares of Grasim Industries Ltd. gained after its flagship company Aditya Birla Group's first-quarter profit beat estimates.
Key Highlights (Standalone, QoQ)
Revenue up 13.7% to Rs 7,253 crore. (Bloomberg estimate: Rs 6,490 crore)
Ebitda down 10% at Rs 1,320 crore. (Bloomberg estimate: Rs 1,114 crore)
Profit down 24.3% at Rs 808.5 crore. (Bloomberg estimate: Rs 637 crore)
The company said it has posted a record-high revenue and operating Ebitda figure. Further, the company said it continues "at zero standalone net debt" post capex of Rs 565 crore in first quarter.
Shares of the company rose as much as 3.3% to Rs 1,653.75, before closing 1.4% higher on Friday. Of the 10 analysts tracking the company, nine maintain 'buy' and one suggests 'hold', according to Bloomberg data. The 12-month consensus price target implies an upside of 0.7%.