Grasim Industries' profit increased four times, Glenmark Life Sciences also benefited tremendously

Grasim Industries’ profit increased four times, Glenmark Life Sciences also benefited tremendously

Aditya Birla Group Chairman Kumar Mangalam Birla

The net profit of Aditya Birla Group’s company Grasim Industries (Grasim Industries) has increased almost four times to Rs 2,447.97 crore for the June quarter (2021-22). In the information given to the regulator, the company has said that it made a net profit of Rs 616.99 crore during the April-June quarter of the last financial year (2020-210. While Glenmark Life Sciences Limited, a subsidiary of Glenmark Pharmaceuticals). Net profit for the first quarter of the current financial year jumped to Rs 100.9 crore, while revenues grew by over 32 per cent. The recent IPO of Glenmark Life Sciences received an overwhelming response from investors.

Grasim Industries’ operating income up 52.7 percent

Aditya Birla Group company Grasim Industries reported a 52.72 per cent increase in operating income for the June quarter (2021-22) to Rs 19,919.40 crore as compared to Rs 13,043.51 crore in the corresponding period of the previous fiscal. During this period, the total expenditure of Grasim Industries increased by 36.67 per cent to Rs 16,853.28 crore from Rs 12,330.93 crore earlier. In a statement, Grasim said, “The second wave of COVID-19 slowed down the pace of economic activity, which was recovering rapidly. However, the economy is witnessing a strong turnaround with the rapid pace of vaccination from the government and the waning impact of the second wave.

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Huge profits of Glenmark Life Sciences

While Glenmark Life Sciences Limited, a subsidiary of Glenmark Pharmaceuticals, reported a 24.5 per cent increase in net profit for the current financial year. The company’s profit has increased to Rs 100.9 crore in the first quarter of the current financial year as compared to the first quarter of the previous financial year. Glenmark Life Sciences has achieved an increase in revenue during the first quarter of the current financial year as compared to the first quarter of the previous financial year. The company has earned a revenue of Rs 524.9 crore from its operations.

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