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Grasim Industries, an Aditya Birla Group company, has reported that its consolidated net profit more than doubled in the December quarter to ₹2,152 crore against ₹1,040 crore logged in the same period last year. Revenue was up 13 per cent at ₹20,986 crore (₹18,617 crore). On a standalone basis, net profit zoomed to ₹359 crore (₹185 crore) even as the sales were down five per cent at ₹3,672 crore (₹3,858 crore).
Viscose Staple Fibre (VSF) sales were up 3 per cent at 1,42,000 tonnes (1,38,000 tonnes) and viscose fibre yarn sales were flat at 10 million tonnes. Revenue from VSF business was down two per cent at ₹2,145 crore (₹2,194 crore). EBITDA was up 86 per cent to ₹482 crore (₹256 crore).
VSF demand in India and overseas markets recovered after the sharp decline due to economic slowdown at the start of this fiscal. The capacity utilisation of the VSF business reached 100 per cent through December quarter and the capacity utilisation of the viscose fibre yarn business also increased to 76 per cent.
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