Mumbai, July 31 -- Net sales rose 8.1% YoY to Rs 36,624.7 crore, supported by a marginal uptick in sales volumes and higher non-operating income.

Despite revenue growth, operating EBIT declined 18.9% YoY to Rs 3,057.8 crore, impacted by higher material and employee costs, adverse forex movements, and increased promotional and new plant-related expenses (Kharkhoda greenfield plant). EBIT margin contracted to 8.3% from 11.1% a year ago.

The Profit Before Tax (PBT) rose 3.1% YoY to Rs 4,834.2 crore, aided by a jump in non-operating income, which increased from 2.9% to 5.0% of net sales. PAT margin came in at 10.1%, down from 10.8% in Q1 FY25.

Compared to Q4 FY25, revenue declined 5.7%, and sales volumes fell 12.7%. PAT was broadly unchang...