Grasim Q2 net up 60.5%

Grasim Industries, part of the Aditya Birla group, has posted a rise of 60.51 per cent in its  consolidated net profit at Rs 780.77 crore for the quarter ended 30 September compared with Rs 486.43 crore in the previous corresponding quarter. The company’s net sales during the period grew to Rs 4,682.28 crore from Rs 4,449.04 crore last year, up 5.24 per cent.

Higher sales of cement supported with strong demand and signs of revival in the global textile markets proving good for the viscose staple fibre (VSF) business helped the Birla firm post good quarterly show. Decline in prices of raw material and energy costs too helped Grasim during the quarter. Its energy costs slipped to Rs 820.48 crore against Rs 884.55 crore, down 7.24 per cent. Similarly, expenditure on input costs dipped 26.53 per cent from Rs 1,104.09 crore to Rs 811.20 crore.

 

On the standalone basis, Grasim’s net profit was Rs 674.25 crore, up 60.73 per cent against Rs 419.50 crore during the same period last year.