Grasim Industries’ net profit up by 17 percent in Q2

Kolkata, Oct 29 (IANS) Grasim Industries on Thursday reported an increase of 17 percent in its net profit at Rs.489 crore during the second quarter of the current fiscal as against Rs.416 crore in the same quarter of 2014-15.

The company’s net revenue during July-September rose by six percent at Rs. 8,393 crore as against Rs.7,943 crore in the similar months of 2014.

Its revenue from viscose staple fibre increased by 13 percent driven by higher sales volume and increased business development activities. During the quarter, the Vilayat plant reached 100 percent capacity utilization. EBITDA soared by 40 percent at Rs. 211 crore with volume expansion and the decline in pulp and other input costs.

In the chemicals vertical, revenue was up by 26 percent with a volume growth of 20 percent in caustic soda and 68 percent in Epoxy. EBITDA, in this segment was higher by 17 percent at Rs.93 crore with the ramping up of production.

Its cement subsidiary – UltraTech Cement – also reported better performance despite subdued demand growth in the industry. Its revenues in the months under review increased by four percent to touch Rs.6,013 crore.

In a statement, the company said the merger scheme of Aditya Birla Chemicals India and Grasim Industries has been approved by Competition Commission of India and the Madhya Pradesh High Court.

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