Grasim Industries reported a consolidated net profit of Rs 1,163.75 crore for the quarter ended on 30 September 2023, up 15.31 per cent from Rs 1,009.17 crore in the same quarter last year.
Its revenue from operations was Rs 30,220.68 crore, up 9.95 per cent from Rs 27,485.54 crore in the previous fiscal quarter, according to an exchange notification.
The company’s EBITDA increased by 19 per cent year on year to Rs 4,509 crore, thanks to contributions from key subsidiaries UltraTech Cement and Aditya Birla Capital.
Standalone revenue was Rs 6,442 crore, and EBITDA was Rs 1,354 crore, both down 4 per cent and 21 per cent year on year. The company noted that pent-up holiday demand resulted in volume growth in the VSF business, while oversupply in the domestic caustic soda market and lower realisations due to a sharp drop in global prices impacted the overall standalone performance.
In its viscose business, festive demand and inventory replenishment in the domestic value chain resulted in volume growth, while export demand from major overseas markets remained weak.
