Grasim Industries posts Q4 net profit at Rs 1,063 cr

Aditya Birla Group firm Grasim Industries today reported a marginal increase in consolidated net profit at Rs 1,063.62 crore for the fourth quarter ended March 31.

The company had posted a net profit of Rs 1,055.26 crore during the same period of the previous fiscal, Grasim Industries said in a BSE filing.

The revenue from operations during the quarter under review stood at Rs 11,140.21 crore as against Rs 10,566.36 crore in the year ago period.

"On the completion of the merger of Aditya Birla Nuvo with Grasim, the company is poised to enter into a new era of growth, given its leadership position in all its businesses post merger," Grasim Industries said in a statement.

For the entire fiscal, the company reported a consolidated net profit at Rs 4,245.61 crore compared to Rs 3,454.74 crore in the 2015-16 fiscal.

Revenue for the fiscal stood at Rs 41,194.95 crore. It was Rs 39,196.61 crore in the previous fiscal.

The company's board has recommended a dividend of Rs 5.50 per share for the financial year 2016-17.

On the outlook, the company said: "In cement, the demand is expected to grow, driven by the government's focus on infrastructure development, affordable housing etc".

Shares of Grasim Industries today closed 0.67 per cent lower at Rs 1,121.30 apiece on BSE.