Grasim Q1 net rises 68% at Rs 219 cr

BS 200 SCORECARD

Grasim Industries, the Aditya Birla group flagship, has posted a 68 per cent jump in its net profit at Rs 219.2 crore for the first quarter ended June 30, 2004, compared with a net profit of Rs 130.5 crore registered in the corresponding quarter of the previous year.

Net sales jumped 30.4 per cent at Rs 1,517.1 crore (Rs 1,163.4 crore). Tax expenses increased 149 per cent at Rs 124.5 crore (Rs 50 crore) while interest costs fell 15.8 per cent at Rs 32.9 crore (Rs 39.1 crore). Depreciation costs rose 4.2 per cent at Rs 69.8 crore (Rs 67 crore).

Grasim's viscose staple fibre division recorded sales of 60,877 tonne, an increase of 24 per cent over the production of 49,278 tonne in the corresponding period of the previous year. Cement sales were up 5 per cent at 3.04 million tonne (2.9 million tonne).

Grasim's sponge iron unit posted a 17 per cent rise in sales at 1,83,459 tonne (1,56,531 tonne). Sales of caustic soda were up 33 per cent at 38,497 tonne (28,886 tonne).