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Shares of Grasim Industries Ltd ended at Rs 1,685.00, down by Rs 18.10, or 1.06 percent on the BSE.
Grasim Industries Ltd, the flagship company of the Aditya Birla Group, on Friday, reported an 88.5 percent year-on-year (YoY) fall in net profit at Rs 93.5 crore for the fourth quarter that ended March 31, 2023, on account of tax write-backs and other one-off items.
The company said standalone PAT for the quarter was impacted by the softening of realisations in the chemicals business compared to the elevated levels of Q4 last year and continued global weakness in the VSF business.
In the corresponding quarter last year, the company posted a net profit of Rs 814 crore. CNBC-TV18 Polls had predicted a profit of Rs 329 crore for the quarter under review.