Grasim's FY12 net up 16% at Rs 2,647 cr

Grasim Industries Ltd, an Aditya Birla Group company, today said its consolidated net profit increased by 16% to Rs 2,647 crore in FY12.

The company's revenue rose by 17% at Rs 25,244 crore in FY12 as against Rs 21,550 crore during the last fiscal.

The company's profit before interest, depreciation and tax (PBIDT) for the reported period stood at Rs 6,320 crore as against Rs 5,395 crore in the previous fiscal, reflecting a growth of 17%, a company statement said here.

During the fourth quarter ended March, the company's revenue rose by 12% at Rs 7,289 crore compared to Rs 6,482 crore in the same period last fiscal. PBIDT during the quarter grew by 6% at to Rs 1,883 crore from Rs 1,780 crore in the year-ago period.

Net profit for the quarter improved to Rs 809 crore in this quarter from Rs 669 crore in the previous quarter.

However, the same was lower as compared to the corresponding quarter last fiscal when prices of viscose staple fibre (VSF) and other competing fibres were at their peak, the release said.

The board of directors of Grasim has recommended a dividend of Rs 22.50 per share in FY12 against Rs 20 per share in FY11. The total outflow on account of the dividend would be Rs 218 crore, including corporate tax on dividend.

The sales volume of viscose staple fibre (VSF) division for the quarter stood at 94,904 tons, increased by 11% led by higher exports. This was despite slowdown in the euro zone which impacted textile demand and addition of new capacities in China.

The cement subsidiary-UltraTech Cement -- reported improved performance for the quarter. Its revenue at Rs 5,659 crore was up by 19%. Cement sales for the quarter at 12.06 millio tonne was higher by 9%.

The chemical business delivered another quarter of good performance. Caustic prices remained firm as industry capacity utilisation was affected due to the low chlorine offtake.