Grasim Q4 profit rises 62%, board recommends ₹10 per share in dividends
The Hindu
Company cites ‘robust quarterly performance’
Grasim Industries Ltd. of the Aditya Birla Group said consolidated fourth-quarter net profit after exceptional items grew 62% year-on-year to ₹2,777 crore following “a robust quarterly performance”, the company said in a press release.
Revenue climbed 18% to ₹28,811 crore.
For the financial year 2022, Grasim reported a 75% increase in net profit to ₹7,550 crore. Revenue rose 25% to ₹95,701 crore, the company said.
Grasim said it had turned zero net debt with net cash at ₹553 crore as on March 31.
The board of directors recommended a dividend of ₹5 per equity share for the year ended March 31, and a special dividend of ₹5 per share.
The total outflow on account of the dividend would be ₹658 crore.
The company said total capital expenditure came to ₹2,537 crore during FY22, of which ₹579 crore was spent in the paints business.
India may be able to develop its own high-end computing chipset, known as GPUs, in the next 3-5 years, Union Minister Ashwini Vaishnaw said.
DeepSeek has computer code that could send some user login information to a Chinese state-owned telecommunications company, say researchers.
Workday is cutting about 1,750 jobs, or 8.5% of its workforce as it focuses on AI.
Reliance Industries, ITC, and other major companies announce significant investments in West Bengal at BGBS 2025.
The Union Budget seems to have got many things right
LIC receives ₹105.42 crore GST demand notice for seven years, no material impact on operations.
Stock markets close lower as investors turn cautious ahead of RBI's monetary policy decision amid trade war concerns.
India has accused South Korea’s Kia of evading taxes of $155 million by misclassifying component imports but the carmaker has denied wrongdoing, the latest fight by a foreign automaker with New Delhi over tariffs, according to a document and two sources.
Rupee hits all-time low against dollar amid global trade war concerns, RBI rate cut expectations, and weak services sector.
Zomato CEO Deepinder Goyal clarifies controversial hiring process, with 30 candidates selected from 18,000 applications.
Bombay High Court to hear Skoda Auto Volkswagen India's plea challenging $1.4 billion tax demand on February 17.
Gold demand in India rose 5% in 2024 to 802.8 tonnes, with 2025 consumption expected between 700-800 tonnes.
India's services sector growth slows in January, but remains above 50; new export business rebounds, job creation accelerates.