For its viscose business, festive demand and inventory replenishment in the domestic value chain resulted in volume growth while export demand for the value chain remained weak from major overseas markets.
Grasim Industries on November 13 reported consolidated net profit for the quarter ended September 30, 2023 at Rs 1,163.75 crore, registering a growth of 15.31 percent from Rs 1,009.17 crore in the same quarter last year.
Its revenue from operations came in at Rs 30,220.68 crore, up 9.95 percent from Rs 27,485.54 crore in the corresponding quarter last fiscal, the company said in an exchange notification.
EBITDA of the company rose by 19 percent YoY to Rs 4,509 crore thanks to contribution from key subsidiaries UltraTech Cement and Aditya Birla Capital.
Standalone revenue stood at Rs 6,442 crore and EBITDA at Rs 1,354 crore, down by 4 percent and 21 percent YoY, respectively. The company noted that pent up festive demand resulted in volume improvement in VSF business while oversupply in the domestic market of caustic soda and lower realisations in line with sharp decline in global prices impacted the overall standalone performance.
For its viscose business, festive demand and inventory replenishment in the domestic value chain resulted in volume growth while export demand for the value chain remained weak from major overseas markets.
In textile segment, elevated input prices impacted the performance in the linen sub-segment, the company said, whereas, in chemicals business, caustic soda sales volume increased by 3 percent YoY and 5 percent QoQ.
Grasim Industries Q2 net profit rises 15% to Rs 1,164 crore - Moneycontrol
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