Grasim net zooms 33% to Rs 669 cr
Grasim Industries, part of the Aditya Birla group, posted a 33 per cent rise in its net profit at Rs 669 crore for the quarter ended December 31, compared to Rs 502 crore a year earlier. Net sales grew 17 per cent from Rs 5,461 crore to Rs 6,364 crore.
Grasim said cement was the major driver for the growth. Last week, its subsidiary UltraTech Cement had come up with robust growth in its net profits. Apart from cement, Grasim’s businesses include viscose staple fibre (VSF) and chemical business.
Grasim said demand for VSF may remain volatile in the present macro-economic conditions. In cement, the surplus scenario should subside gradually over two-three years, with an expected growth in demand. On the Bombay Stock Exchange, Grasim shares closed weak at Rs 2,490.65, down 1.28 per cent
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