07 Feb 2019
Grasim Industries Q3 profit soars 76% YoY to Rs 958 crore
The Economic Times
Consolidated revenue for the quarter rose 22 per cent to Rs 18,419 crore.
New Delhi: Grasim Industries on Thursday reported a 76 per cent year-on-year (YoY) rise in consolidated net profit at Rs 958 crore for the December quarter. The Aditya Birla group company had reported Rs 543 crore profit in the corresponding quarter last year. The Aditya Birla group company had reported Rs 543 crore profit in the corresponding quarter last year. Consolidated revenue for the quarter rose 22 per cent to Rs 18,419 crore compared with Rs 15,153 crore revenue reported in the corresponding quarter last year. EBITDA rose 11 per cent YoY to Rs 2,958 crore.
"The VSF business will continue to focus on expanding the market in India by partnering with the textile value chain, achieving better customer connect through its brands Liva and Livaeco and enriching the product mix through a larger share of specialty fibre. VSF continues to be fastest growing textile fibre globally. However, the new capacities likely to come on stream in China may impact the global VSF prices in the near term, the company said in a BSE filing.On chemicals business, the company said it was seeing healthy growth after the completion of capacity expansion.
"Additional growth is expected from the proposed caustic soda expansion and new product lines for specialty chemicals," it said.
Cement demand, the company said, is witnessing an upward movement with higher spends on infrastructure and the government sponsored housing program.
"With the additional capacities acquired by UltraTech through the organic and inorganic route and its rapid ramp-up, UltraTech is very well placed to participate in the growth of the economy. In Financial Services, Aditya Birla Capital will continue to build on its strong presence in different sectors and will focus on building profitable scale across its platform. Overall the outlook is positive," the company said.