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Grasim Q3 profit hits Rs 786 crores

For the third quarter Grasim reported a consolidated net profit of Rs 786.87 crores, mainly on account of higher expenses and loss from subsidiaries. Total income during stood at Rs 15,523.75 crores. It was Rs 9,743.51 crores in the corresponding period in the previous fiscal.

Grasim is an Aditya Birla company. The consolidated profit after tax for the quarter is lower compared to the previous period mainly on account of the share of the company in the net loss of Idea Cellular, an associate firm.

Grasim’s viscose staple fiber business will continue to focus on expanding the market in India by partnering with the textile value chain. The domestic viscose staple fiber market demand remained buoyant with sales volume up by nine per cent year on year. The uptrend in domestic caustic soda prices continued in the current quarter, driven by supply related issues in China and Europe and robust demand from major consuming segments (alumina and textile).

Grasim has a strong presence in polyester viscose and polyester wool fabric. The domestic over the counter division operates in the formal menswear fabric market by offering ready-to-stitch suiting and shirting.