India: In the third quarter of the 2024 financial year (1 October – 31 December 2023), Grasim Industries’ earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 34% to US$620m. The Hindu Business Line newspaper has reported that the company partly attributed this to an increased sales contribution from its cement subsidiary UltraTech Cement. Nonetheless, Grasim Industries’ net profit dropped by 42% year-on-year in the quarter, to US$313m.
Grasim Industries’ cement sales growth contributes to rise in earnings in third quarter of 2024 financial year
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