Grindwell Norton

Net up 5% thanks to higher sales as OPM stay flat

Consolidated net sales (including other operating income) of Grindwell Norton for the quarter ended Jun 2023 has increased 4.76% to Rs 668.35 crore. Operating profit margin has jumped from 20.20% to 20.23%, leading to 4.89% rise in operating profit to Rs 135.20 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 35.46% to 35.00%. Purchase of finished goods cost fell from 11.88% to 11.05%. Employee cost increased from 10.60% to 11.74%. Other expenses fell from 22.28% to 22.26%. Other income rose 34.19% to Rs 14.6 crore. PBIDT rose 7.17% to Rs 149.8 crore. Provision for interest rose 315.38% to Rs 2.16 crore. PBDT rose 6.02% to Rs 147.64 crore. Provision for depreciation rose 21.74% to Rs 16.69 crore. Profit before tax grew 4.30% to Rs 130.95 crore. Share of profit/loss was 65.85% lower at Rs -0.68 crore. Prov...

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