Grasim Industries Q3 net up 14% to Rs 728 cr

Firm says Ebitda at Rs 1,878 cr was up 7% on strong performances by VSF and cement businesses

Aditya Birla Group firm Grasim Industries Ltd today posted an increase of 13.69 per cent in its consolidated net profit at Rs 728.19 crore for the third quarter ended December.

Net profit stood at Rs 640.47 crore in October-December a year ago, Grasim Industries said in a filing to BSE.

Its consolidated total income from operations was up marginally by 0.84 per cent at Rs 9,577.02 crore during the quarter under review as against Rs 9,496.84 crore in the same period last fiscal.

"Grasim has reported improved profitability for the quarter ended December 31, 2016... Ebitda at Rs 1,878 crore was up by 7 per cent driven by the performance from VSF (viscose staple fibre) and cement businesses," the company said in a statement.

Grasim Industries' total expenses came down marginally by 0.15 per cent to Rs 8,315.27 crore as against Rs 8,327.81 crore. Its revenue from viscose staple fiber division was up 9.83 per cent at Rs 1,902.92 crore as against Rs 1,732.51 crore.

Its cement revenue was down 1.50 per cent at Rs 6,761 crore from the earlier Rs 6,864.57 crore.

The stock was trading at Rs 975.25 on BSE, up 5.01 per cent from its previous close.