Grasim Industries' Q3 net profit surges to Rs 2,152 crore
Aditya Birla Group firm Grasim Industries Ltd’s consolidated net profit for the third quarter ended December 2020, nearly double to Rs 2,152 crore ($296.5 million), as against Rs 1,040 crore during the corresponding quarter of the previous fiscal.
The company’s revenue for the quarter under review rose by 13 percent to Rs 20,986 crore, against Rs 18,616 crore in the year-ago period.
The viscose-pulp, viscose staple fibre (VSF), and filament yarn segments contributed Rs 2,145 crore to the company’s overall revenue during the quarter.
Grasim’s total expenses for the quarter rose by 5 percent to Rs 18,278 crore, as against Rs 1,7439 crore a year ago.
“Key businesses outperform pre-Covid-19 operational levels, leveraging the synergy of a conglomerate and the energy of focused businesses. This is the highest-ever consolidated quarterly profit reported by the company, with strong growth across businesses," Grasim Industries said in its earning statement.
Grasim Industries is the largest producer and seller of viscose staple fibre with a market share of almost 100 percent in India.
Copyright © 2021 FashionNetwork.com All rights reserved.