Grasim Industries, which is an Aditya Birla group company, registered a net profit to the tune of Rs.1,144.44 crore for the third quarter of the current financial year. In comparison, the company had registered a net profit of Rs.786.87 crore during the corresponding period in the previous financial year.
The company’s total income for the quarter was Rs.18,591.13 crore. The total income came up to Rs.15,343.93 crore in the year-ago period. The company authorities announced that its results cannot be compared with corresponding periods in previous financial years due to the merger with Binani Cement.
Grasim Industries’ total expenses for the third quarter of the financial year stood at Rs.16,932.87 crore. The revenue from its cement business came up to Rs.9,389.62 crore, during the third quarter that ended in December 2018, as against a revenue of Rs.7,900.38 crore in the year-ago period.
The consolidated sales volume of the company witnessed a 15% increase on a YoY basis to touch 19.4 million tonne per annum. Grasim Industries’ viscose staple fibre business delivered its highest-ever production in the third quarter of the current financial year at 1,41,000 tonne and had a sales volume of 1,34,000 tonne. The company mentioned that due to robust demand, the share of domestic sales in the company’s overall sales increased by 89% in the third quarter of FY19 from 77% in the year-ago period.
The company’s earned a revenue of Rs.1,558.54 crore from caustic soda, chemicals, and allied chemicals. Financial services were responsible for contributing a sum of Rs.3,741.10 crore.
Sources: The Times of India, Moneycontrol, Economic Times