New Delhi:
Aditya Birla Group firm Grasim Industries Ltd on Tuesday reported a 55.56 percent increase in consolidated net profit at Rs 4,070.46 crore for the fourth quarter ended March 31, 2022.
The company had posted a net profit of Rs 2,616.64 crore during the January-March quarter of 2020-21, Grasim Industries said in a regulatory filing.
Grasim Industries’ operating income increased 18.07 percent to Rs 28,811.39 crore during the reporting quarter, compared to Rs 24,401.45 crore in the corresponding period of the previous fiscal year.
The total cost was Rs 25,786.54 crore, an increase of 23.45 percent in the March 2021-2022 quarter, compared to Rs 20,887.16 crore, a year ago.
In the March 2021-2022 quarter, Grasim Industries’ sales of viscose pulp, viscose staple fibers and filament yarn segment increased 45.79 percent to Rs 3,766.49 crore, compared to Rs 2,583.40 crore a year ago.
“The Viscose Filament Yarn (VFY) business posted 9 percent year-over-year volume growth. Higher inputs and fixed costs in the March 2021-2022 quarter impacted financial performance,” Grasim Industries said in an earnings statement.
The recently commissioned 600 TPD brownfield plant at Vilayat, Gujarat, contributed approximately 32KT of sales volume during the quarter.
The growth in global demand for textile products in the US and Europe also led to positive demand for Viscose Staple Fiber (VSF).
Sales of its subsidiary and leading cement maker UltraTech Cement rose 9.45 percent to Rs 15,767.28 crore, from Rs 14,405.61 crore in the March 2020-21 quarter.
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