Grasim Industries posts net profit of Rs 1,144 crore

Aditya Birla Group firm Grasim Industries posted a consolidated net profit of Rs 1,144 crore ($160.3 million) for the third quarter ended December 2018 as against a net profit of Rs 787 crore during the October-December period a year ago.
 
Grasim Industries posts net profit of Rs 1,144 crore

The total income during the quarter was Rs 18,591 crore as compared to Rs 15,344 crore in the corresponding period of the previous fiscal.
 
The viscose staple fibre (VSF) division added Rs 2,617 crore to the company’s overall revenue as against Rs 2,188 crore in the corresponding quarter.
 
"The VSF business delivered highest-ever production in Q3FY19 at 141KT (1, 41,000 tonnes), an increase of 11 percent, and the sales volume at 134KT (1, 34,000 tonnes). The share of the domestic sales in the overall sales rose to 89 percent in Q3/FY19 from 77 percent in Q3/FY18, led by robust demand," the company said in a statement.
 
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 its brands Liva and Livaeco and enriching the product mix through a larger share of specialty fibre. VSF continues to be the fastest growing textile fibre globally. However, the new capacities likely to come on stream in China may impact the global VSF prices in the near term.”

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