Grasim Industries posts Q3 net at Rs 1,144 cr, revenue rises to Rs 9,389 cr

Grasim Industries' consolidated sales volume registered an increase of 15% on YoY basis to 19.4 million tonne per annum

Aditya Birla Group firm Grasim Industries on Thursday reported a consolidated net profit of Rs 1,144.44 crore for the third quarter ended December 2018.

It had posted a net profit of Rs 786.87 crore during the October-December period a year-ago, Grasim Industries said in a regulatory filing.

Total income during the quarter stood at Rs 18,591.13 crore. It was Rs 15,343.93 crore in the corresponding period of the previous fiscal.

Meanwhile, Grasim Industries said its results are "not comparable with the previous corresponding periods" due to the merger of Binani Cement (now UltraTech Nathdwara Cement) in the company.

The company's total expenses during the quarter were at Rs 16,932.87 crore.

Its revenue from the cement business during the quarter was Rs 9,389.62 crore. It was Rs 7,900.38 crore in the corresponding quarter a year ago.

"The consolidated sales volume registered an increase of 15 per cent on YoY basis to 19.4 million tonne per annum," the company said.

While viscose staple fibre (VSF) was at Rs 2,616.66 crore. It was Rs 2,187.54 crore in the corresponding quarter.

"The VSF business delivered highest-ever production in Q3FY19 at 141KT (1,41,000 tonne), an increase of 11 per cent, and the sales volume at 134KT (1,34,000 tonne). The share of the domestic sales in the overall sales rose to 89 per cent in Q3/FY19 from 77 per cent in Q3/FY18, led by a robust demand," it said.

Revenue from its chemicals, caustic soda and allied chemicals, was at Rs 1,558.54 crore.

Financial services contributed Rs 3,741.10 crore.

Shares of Grasim Industries on Thursday settled at Rs 753.20 on the BSE, up 2.90 per cent from the previous close.