Grasim Industries March Quarter Profit Soars 55% To Rs 4,070 Crore
Aditya Birla Group firm Grasim Industries Ltd on Tuesday reported a 55.56 per cent increase in its consolidated net profit at Rs 4,070.46 crore for the fourth quarter ended March 31, 2022.
The company had posted a net profit of Rs 2,616.64 crore during the January-March quarter of 2020-21, Grasim Industries said in a regulatory filing.
Grasim Industries’ revenue from operations was up 18.07 per cent at Rs 28,811.39 crore during the quarter under review, as against Rs 24,401.45 crore in the corresponding period of the previous fiscal.
Its total expenses were at Rs 25,786.54 crore, up 23.45 per cent in March quarter of 2021-22, as against Rs 20,887.16 crore, a year ago.
In March quarter of 2021-22 Grasim Industries’ revenue from viscose-pulp, viscose staple fibre and filament yarn segment was up 45.79 per cent to Rs 3,766.49 crore, as against Rs 2,583.40 crore a year ago.
“The Viscose Filament Yarn (VFY) business recorded a volume growth of 9 per cent YoY. Higher input and fixed cost in March quarter of 2021-22 impacted financial performance,” Grasim Industries said in an earnings statement.
The recently commissioned 600 TPD brownfield plant at Vilayat, in Gujarat contributed around 32KT of sales volume during the quarter.
The growth in the global demand for textile products in the US and Europe also led to a positive demand environment for viscose staple fibre (VSF).
Revenue from its subsidiary and the leading cement maker UltraTech Cement was up 9.45 per cent to Rs 15,767.28 crore, as against Rs 14,405.61 crore in March quarter of 2020-21.
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