According to a Business Standard report, Grasim Industries reported consolidated net profit of INR 1,248 Cr. for the quarter ended June, up 9.47 per cent from the corresponding period last year on the back of rising sales. Total income during the quarter stood at INR 11,222 Cr. against INR 10,373 Cr. in the corresponding period last year, up 8.18 per cent.
The Aditya Birla Group firm is the holding company for India’s cement maker UltraTech with about 92 million tonne per annum (mtpa) capacity. It is also into making viscose staple fibre (VSF) for the textile industry and chemicals such as caustic soda on a standalone basis.
“The VSF business will continue to focus on expanding the market in India by partnering the textile value chain and enriching the product mix through a larger share of speciality fibre,” said Dilip Gaur, MD, Grasim Industries.
With effect from July 1, Aditya Birla Nuvo Ltd. has been merged into Grasim Industries. Also, the demerger of the financial services business has been rendered effective from July 4 and it will be listed separately by the end of September quarter.