+
Grasim Industries reports 34% rise in Q2 FY24 net profit
ECONOMY & POLICY

Grasim Industries reports 34% rise in Q2 FY24 net profit

Grasim Industries, a component of the Aditya Birla Group, announced a significant increase of 34.11% in its net consolidated profit for the quarter concluding on September 30, 2023. The profit after tax for Q2 FY24 reached Rs 20.24 billion, contrasting with the Rs 15.09 billion reported in the corresponding quarter of the previous fiscal.

As stated by the company, its net consolidated total income for Q2 FY24 reached Rs 305.05 billion, marking a growth of 9.98% compared to the Rs 277.37 billion recorded in the corresponding quarter of the preceding year.

On October 16, 2023, the board of directors of the company deliberated and sanctioned the proposal to raise funds through a Rights Issue of Equity Shares with a face value of Rs 2 each. This initiative is targeted at eligible equity shareholders, with the intention to generate an amount not surpassing Rs 40 billion.

In the course of the quarter, the company executed the transfer of 78,582 equity shares to the option grantees from the Grasim Employee Welfare Trust. This action was taken in response to applications received under the Employee Stock Option Scheme — 2018.


Grasim Industries, a component of the Aditya Birla Group, announced a significant increase of 34.11% in its net consolidated profit for the quarter concluding on September 30, 2023. The profit after tax for Q2 FY24 reached Rs 20.24 billion, contrasting with the Rs 15.09 billion reported in the corresponding quarter of the previous fiscal.As stated by the company, its net consolidated total income for Q2 FY24 reached Rs 305.05 billion, marking a growth of 9.98% compared to the Rs 277.37 billion recorded in the corresponding quarter of the preceding year.On October 16, 2023, the board of directors of the company deliberated and sanctioned the proposal to raise funds through a Rights Issue of Equity Shares with a face value of Rs 2 each. This initiative is targeted at eligible equity shareholders, with the intention to generate an amount not surpassing Rs 40 billion.In the course of the quarter, the company executed the transfer of 78,582 equity shares to the option grantees from the Grasim Employee Welfare Trust. This action was taken in response to applications received under the Employee Stock Option Scheme — 2018.

Next Story
Building Material

UltraTech’s Limestone Mine Gets India’s First-Ever 7-Star Rating

UltraTech Cement, India’s largest producer of cement and Ready-Mix Concrete (RMC), has received top honours for sustainable mining practices. Thirteen of the company’s limestone mines were awarded star ratings by the Indian Bureau of Mines (IBM), Ministry of Mines, for FY 2023–24 during a ceremony held in Jaipur, Rajasthan. Among these, the Naokari Limestone Mine—part of UltraTech’s Awarpur Cement Works in Chandrapur, Maharashtra—was awarded India’s first-ever 7-star rating for a limestone mine, in recognition of exceptional performance in ‘Green Mining’. The remain..

Next Story
Infrastructure Urban

Sieger Parking Enters Mumbai Market, Expands West India Presence

Sieger Parking, a Coimbatore-headquartered specialist in automated and multi-level car parking systems, has announced its entry into Western India with the launch of a regional office in Mumbai. This move marks a key milestone in the company’s pan-India growth strategy and its commitment to delivering technology-driven, space-efficient parking solutions across urban India. The Mumbai office will serve as the regional headquarters for Maharashtra and neighbouring states, supporting end-to-end operations with on-ground sales, project management, and service teams. The aim is to fast-track..

Next Story
Resources

IGBC Green Kochi Conclave 2025 Champions Culture and Climate Action

The Indian Green Building Council (IGBC), part of CII, hosted the Green Kochi Conclave 2025 on 4 July at Hotel Holiday Inn, Kochi, under the theme “Tharavadu to Tomorrow: Weaving Kerala’s Heritage into a Sustainable Built Environment.” The event brought together policymakers, architects, developers, and thought leaders to discuss Kerala’s progress in blending cultural heritage with sustainable design.  Kerala is emerging as a frontrunner in climate-resilient development, thanks to passive design strategies, rainwater harvesting, cool roof initiatives, and the widespread adopt..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?