Grasim Industries, part of Aditya Birla Group, has reported 17 per cent increase in its consolidated net profit at Rs.488 crore (Rs.416 crore) largely due to higher volume in cement and viscose staple fibre business. Sales were up five per cent at Rs.8,297 crore (Rs.7,864 crore).
On a standalone basis, net profit was 13 per cent at Rs.338 crore (Rs.299 crore). Sales were up 15 per cent at Rs.1,818 crore (Rs.1,582 crore)
Consolidated earnings before interest, tax, depreciation and amortisation were up 16 per cent at Rs.1,485 crore (Rs.1,277 crore). Revenue from VSF increased 13 per cent driven by higher sales volume at 114,000 tonnes with additional output from the recently commissioned unit at Vilayat in Gujarat.
Ebita in VSF business was up 40 per cent at Rs.211 crore with volume expansion, decline in pulp and other input costs and higher sale price.
In the chemical business, revenue was up 26 per cent at Rs.523 crore, while volumes were up 20 per cent at 118,163 tonnes. Ebitda increased 17 per cent to Rs.93 crore.
The company has received approval from the Competition Commission of India and Madhya Pradesh High Court for merging Aditya Birla Chemicals with itself and expects Jharkhand High Court approval by December quarter. On receiving the requisite approvals, the merger will be effective from April 1, 2015, the appointed date.
Revenue from cement business through its subsidiary UltraTech Cement was up four per cent at Rs.6,013 crore, while Ebidta from cement jumped 12 per cent to Rs.1,103 crore.
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