Published
May 24, 2018
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Grasim Industries Ltd Q4 net profit falls 20 percent to Rs 854 crore

Published
May 24, 2018

Aditya Birla Group firm Grasim Industries consolidated net profit dropped 20 percent to Rs 854 crore (approx $125 million) for the fourth quarter ended March 2018. It had posted a net profit of Rs 1,064 crore (approx $155.7 million) during the same period of the previous fiscal.
 


Total income during the quarter under review stood at Rs 17,692 crore (approx $2.58 billion) as compared to Rs 11,409 crore (approx $1.67 billion) in the corresponding period of the previous fiscal.
 
For the financial year 2017-18, Grasim Industries net profit was Rs 3,688 crore (approx $539.6 million). It was Rs 4,246 crore (approx $621.3 million) in 2016-17. Total income of Grasim Industries stood at Rs 58,328 crore as against Rs 41,194 crore in 2016-17.

“The viscose staple fibre (VSF) business reported its highest ever sales volume of 508KT in FY18, led by growth in the domestic market with intense market development efforts. The share of the domestic sales, the overall sales rose to 75% in FY18 from 69% in FY17. The number of LIVA tagged garments has witnessed a 10x increase in the last 3 years to 30.25 million in FY18. More than 3000 stores across the country are making LIVA tagged garments available to the customers,” the company said in a statement.
 
Commenting on the outlook, the company said, “The VSF business will continue to focus on expanding the market in India by partnering with the textile value chain, achieving better customer connect through brand Liva and enriching the product mix through a larger share of specialty fibre. However, the new capacities likely to come on stream in China may impact the global VSF prices in the near term.”
 
The company has committed a fresh capex of Rs 3,523 crore (approx $551.3 million) for capacity expansion to tap the strong demand growth of VSF and maintain its leadership position.
 

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