Grasim Industries’ net profit jumps 23.1 pc to Rs 2,655.45 cr in Dec quarter, Retail News, ET Retail

New Delhi: Aditya Birla Group agency Grasim Industries Ltd on Monday claimed a 23.10 per cent leap in its consolidated web revenue to Rs 2,655.45 crore for the third quarter finished on December 31, 2021. The enterprise experienced posted a web revenue of Rs 2,157.12 crore through the Oct- December quarter of the earlier economic 12 months, Grasim Industries said in a regulatory filing.

Its income from functions through Oct-December 2021 rose 6.20 for each cent to Rs 2,4402.24 crore, from Rs 21,000.13 crore in the 12 months-in the past period.

“Grasim proceeds with the momentum of robust efficiency,” the enterprise mentioned in an earnings statement.

It further additional that its “web debt stands at zero with the completion of disinvestment of fertiliser business on January 1, 2022, on a standalone business”.

Grasim Industries’ whole expenditures stood at Rs 21,702.61 crore in the December 2021 quarter, a rise of 8.57 for every cent as versus Rs 18,303.12 crore a calendar year in the past.

Its profits from the viscose-pulp, viscose staple fibre (VSF) and filament yarn phase jumped 55.48 for each cent to Rs 3,335.44 crore in Q3/FY2021-22 as in opposition to Rs 2,145.14 crore a 12 months back.

“The potent operational performance of VSF has been induced by sturdy need for textile solutions in India through Q3FY22, regardless of the curbs imposed by many state governments. The domestic textile benefit chain has been working close to its peak ability, which is led by the need uptick,” said Grasim Industries.

The VSF sales quantity for Q3FY22 were being further boosted by the commissioning of brownfield (existing) expansion (300 TPD) at Vilayat.

The advancement in the international demand from customers for textile products and solutions in the US and Europe also led to a optimistic demand from customers surroundings for VSF.

Revenue from its subsidiary and primary cement maker UltraTech Cement rose 5.89 for each cent to Rs 12,984.93 crore in December 2021 quarter, when compared with Rs 12,262 crore a calendar year ago.

“The enterprise documented an Ebitda (earnings ahead of curiosity, tax, depreciation and amortisation) of Rs 2,490 crore and product sales volume stood at 23.13 MTPA,” it stated.

Its earnings from the chemicals section jumped 82.53 per cent to Rs 2,338.21 crore, towards Rs 1,280.96 crore of Q2/FY 2020-21.

“Worldwide caustic soda rates taken care of an upward trajectory in Q3FY22, for the fourth straight quarter. The domestic caustic soda costs mirrored the global trend in caustic price ranges, solid domestic need ailments also supported the selling prices,” mentioned Grasim.

Earnings from the financial services segment, Aditya Birla Funds Ltd (ABCL), jumped 11.53 for every cent to Rs 5,599.93 crore as versus Rs 5,020.95 crore a 12 months in the past.

“ABCL remains targeted on maximising the benefit of the lively customer base of 31 million even though continuing to travel shopper acquisition at scale,” stated Grasim.

The NBFC and housing finance lending guide grew 7 per cent to Rs 61,411 crore in the December 2021 quarter.

Though profits from other segments elevated 43.32 per cent to Rs 623.78 crore, in opposition to Rs 435.21 crore a calendar year ago.

Grasim, which had past yr introduced to enter into the paint business, explained, “The corporation has gained the environmental clearance for two of its plant web sites at Panipat and Ludhiana of the five internet sites as portion of its pan-India footprint for paints production.”

Shares of Grasim Industries Ltd on Monday closed at Rs 1,649.05 apiece on the BSE, down 3.92 per cent from the prior near.