Grasim Industries reports 16% revenue growth in March quarter

By

Isabelle Crossley

Published
May 29, 2023

Aditya Birla Group business Grasim Industries saw its consolidated revenue increase by 16% year-on-year to total Rs 33,462 crore in the recent March quarter. However, the business’ consolidated operating margins fell by 200 basis points, compared to the same time a year prior, to 14%. 

Grasim Industries attributed much it its performance in the March quarter to its subsidiaries, ET Bureau reported. The business saw its earnings before interest, tax, depreciation, and amortisation increase by 5% to total Rs 4,873 crore as a number of its standalone businesses experienced weaker realisations during the quarter. The business’ adjusted net profit was down by 4% year-on-year to total Rs 1,369 crore on a consolidated basis. 
 
Grasim Industries operates in several sectors including textiles and its standalone businesses include niche textiles and viscose filament yarn among others. The company witnessed the effects of continued global weakness in the viscose staple fibre business during the March quarter.

The business had high expenditure in the March quarter, the Economic Times reported. Out of the total Rs 4,307 crore Grasim Industries spent in the 2023 financial year, it spent Rs 1,734 crore during the March quarter.