Grasim Industries, a part of the Aditya Birla Group, on Tuesday reported a 14 per cent fall in third-quarter consolidated net profit at Rs 502 crore, compared to Rs 580 crore in the previous corresponding quarter. Net revenue rose 13 per cent to Rs 5,461 crore from Rs 4,846 crore.
UltraTech’s poor performance dampened Grasim results. It is a wholly-owned subsidiary of Grasim Industries. The other businesses of Grasim include viscose staple fibre and chemical.
On a stand-alone basis, Grasim’s net profit jumped by eight per cent to Rs 283 crore from Rs 262 crore, while net revenue increased 19 per cent to Rs 1,257 crore from Rs 1,058 crore.
Shares of Grasim Industries were down by 1.21 per cent at Rs 2,368.60 on the Bombay Stock Exchange.