Aditya Birla Group firm Grasim Industries reported a consolidated net loss of Rs 1,300 crore (approx $180.2 million) for the second quarter ended September 2018 as against net profit of Rs 800 crore it had posted during the July-September period of last fiscal. The company attributed these losses to the merger of Vodafone with Idea Cellular.
Grasim’s revenue increased 24 per cent to Rs 16, 795 crore during the period under review as against Rs 13,570 crore of the corresponding quarter last fiscal. Its revenue from viscose staple fibre (VSF) increased 23 per cent at Rs 2,606 crore for the quarter as against Rs 2,120 crore last fiscal.
The viscose staple fiber (VSF) production and sales volume was 137,000 tonne and 1, 36,000 tonne. As a result of higher production, the share of domestic sales also jumped to 84 percent from 70 percent led by robust demand. The VSF business continues to focus on expanding the market in India by partnering with the textile value chain, achieving better customer connect through brand LIVA and intensive research work in enriching the product mix through a larger share of specialty fiber.
