Grasim Industries Ltd. reported third quarter consolidated net profit more than doubled to ₹1,384 crore from the year-earlier period.
Consolidated revenue of the Aditya Birla Group firm rose 13% to ₹20,986 crore.
“All key businesses have outperformed pre-COVID operational levels, leveraging the synergy of a conglomerate and the energy of focused businesses,” the company said in a filing.
Standalone net profit rose 95% to ₹359 crore while standalone revenue dipped 5% to ₹3,672 crore.
Capacity utilisation of its VSF business reached 100% through Q3FY21 and net revenue for the viscose segment stood at ₹2,145 crore. EBITDA at ₹482 crore ‘improved substantially.’
The domestic caustic soda business also witnessed an upsurge in demand during the quarter recording capacity utilisation levels of 89% in Q3FY21. The net revenue for the chemicals business stood at ₹1,281 crore and EBITDA ₹177 crore.
The board had previously announced foray into the paints sector with an initial capital expenditure of ₹5,000 crore over the next three years. The company said the sale of its fertiliser business was on track as it had received CCI approval and no objection certificate from the stock exchange.
Please Email the Editor