Grasim Industries Q4 net profit jumps 46 percent to Rs 2,305 crore

By

Maverick Martins

Published
Jun 15, 2020

Aditya Birla Group firm Grasim Industries reported a 46 percent increase in consolidated net profit to Rs 2,305 crore ($303.5 million) for the fourth quarter ended March 31, as against a net profit of Rs 1,583 crore it posted in the year-ago period.
 

The company’s revenue was down11 percent to Rs 19,902 crore for the quarter under review as against Rs 22,431 crore in the corresponding period previous fiscal.
 
For the fiscal year 2019-20, Grasim Industries’ net profit grew two-fold to Rs 6,677 crore, as against Rs 2,745 crore in the previous year while its revenue was up 1 percent to Rs 77,625 crore, as compared to Rs 77,200 crore in 2018-19.

“The viscose staple fibre sales were impacted during the last 10 days of the Q4FY20 due to lockdown. The domestic grey VSF prices softened sequentially in Q4FY20 in line with global prices but the overall performance improved QoQ on the back of better cost management, higher speciality sales, and lower input cost," the company said in a statement.
 
On the outlook, Grasim Industries said, “In the near-term, the demand for the company's products will be impacted by the Covid-19-led general economic slowdown. The company has initiated various measures to reduce its fixed costs and conserve cash as part of its comprehensive business continuity plan.”
 
Grasim Industries is the largest producer and seller of viscose staple fibre with a market share of almost 100 percent in India.