Comments
Aditya Birla group company Grasim Industries has reported a 32 per cent rise in its consolidated net profit (before extraordinary items) for the fourth quarter ended March 30, 2011, largely due to the strong performance of its viscose staple fibre business.
Net profit (before extraordinary items) was Rs 865 crore (Rs 654 crore). Revenues rose 19 per cent, to Rs 6,502 crore (Rs 5474 crore).
“The VSF business has performed better than expected during the quarter despite challenges of rising pulp and energy costs,” Mr Adesh Gupta, Wholetime Director and Chief Financial Officer of Grasim Industries, told Business Line . Sales volume of viscose staple fibre was at 85,650 tonnes (85,714 tonnes), while production rose to 82,932 tonnes (81,081 tonnes).
CEMENT
The company's cement unit, UltraTech Cement, posted a quarterly profit of Rs 716 crore, but continued to face pressures such as low demand, high raw material and energy costs.
For the full year ended March 31, net profit (before extraordinary items) declined 18 per cent to Rs 2,265 crore (Rs 2,759 crore).
Revenues grew 7 per cent to Rs 21,585 crore (Rs 20,195 crore).
Standalone net profit for the year was down 43.5 per cent to Rs 1,181.7 crore (Rs 2,092.1 crore) while total income decreased 42.1 per cent to Rs 4,943.7 crore (Rs 8,547.8 crore)
The Grasim board has recommended a dividend of Rs 20 per share of face value Rs 10. The Grasim scrip was up 0.29 per cent at Rs 2,361.95 crore on the BSE on Wednesday.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.