Higher realisation boosts Grasim profit by 76% to ₹958 Cr
Grasim’s Cement subsidiary UltraTech witnessed a 19 percent rise in revenue to ₹9,390 crore during the December quarter
Grasim Industries, an Aditya Birla Group company, has reported a 76 percent increase in December quarter net profit at ₹958 crore, against ₹543 crore logged in the same period last year, largely on the back of better realization. Revenue was up 22 percent at ₹18,419 crore (₹15,513 crore).
The viscose staple fiber business delivered the highest ever production of 1.41 lakh tonnes, which was an increase of 11 percent compared to last year. Sales volume at 1.34 lakh tonnes led by robust demand.
Revenue from the caustic soda business was up 19 percent at ₹1,559 crore and EBITDA increased 23 percent to ₹441 crore, driven by better realization and higher sales volume.
The company’s cement subsidiary UltraTech’s revenue was up 19 percent to ₹9,390 crore and EBITDA increased 4 percent to ₹1,548 crore.
Financial services subsidiary Aditya Birla Capital’s revenue and net profit were at ₹3,780 crore and ₹206 crore respectively.
The company’s VSF business plans to expand market share in India by partnering with the textile value chain through Liva and Livaeco brands. However, the new capacities likely to come on stream in China may impact the global VSF prices in the near term.