Grasim Industries, the flagship company of conglomerate Aditya Birla Group, on Friday reported a standalone net profit of Rs 481.6 crore for the quarter ended June 30. For the corresponding period a year ago, the company had posted a net loss of Rs 282.9 crore.

In a regulatory filing during market hours, Grasim said its revenue was at Rs 3,762.7 crore in the June quarter, as against Rs 1,335.7 crore it had reported for the year-ago period.

Grasim's earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 740.3 crore in the first quarter of the current financial year. It had reported an EBITDA loss of Rs 225.6 crore in the year-ago period.

Its EBITDA margin was at 19.7 percent in the quarter ended June 30.

Analysts in a CNBC-TV18 poll had estimated the company's profit at Rs 311 crore over revenue of Rs 3,710 crore. They had predicted its EBITDA at Rs 628 crore and the EBITDA margin at 16.93 percent.

#1QWithCNBCTV18 | @GrasimInd's net profit comes against a loss YoY; EBITDA turns positive on a low base as well pic.twitter.com/80jFcDsj1Y

— CNBC-TV18 (@CNBCTV18Live) August 13, 2021

Grasim's total expenses rose 79.36 percent on a year-on-year basis to Rs 3,282.34 crore. The cost of raw material increased more than three times to Rs 1,826.16 crore in the June quarter, from Rs 543.05 crore in the year-ago period, according to the regulatory filing.

During the quarter, domestic demand was impacted on account of the second wave of the pandemic and consequent restrictions, the company said in a press release. The demand has recovered swiftly after the easing of curbs, it added.

The company said the performance of its viscose staple fibre (VSF) business was impacted by lower domestic sales volume due to Covid-led restrictions. However, it mitigated the domestic demand impact partially through an increase in exports and higher share of specialty products, Grasim said.

The company said it expects its businesses to resume their growth trajectory assuming a low impact of a third wave of the pandemic.

Grasim shares ended 0.35 percent higher at Rs 1,497.60 apiece on BSE, having risen as much as 2.66 percent during the session following the earnings announcement.

(Edited by : Ajay Vaishnav)