Grasim net profit at 524.9 cr during JulySept

MUMBAI: Aditya Birla Group flagship Grasim Industries Ltd Tuesday said consolidated net profit in the quarter ending September fell 38% from a year ago to ₹524.9 crore. The company attributed the decline to higher interest expense and employee benefits expense rising over 90% to ₹1,076.6 crore. Revenue, on the other hand, jumped 62.7% from the year-ago period to ₹13,646 crore. September quarter earnings are not comparable with the year-ago period due to Grasim’s merger with Aditya Birla Nuvo Ltd which took effect on July 1, 2017.