Grasim Ind March quarter profit at Rs 1,531.86 cr

Chennai: Grasim Industries reported a consolidated net profit of Rs 1,531.86 crore for the March quarter and said it has earmarked Rs 6,454 crore as capital expenditure for next three years for various purposes, including brown field expansion of Vilayat plant in Gujarat.

The company had posted a net profit of Rs 853.62 crore during January-March quarter of the previous fiscal, Grasim Industries said in a regulatory filing.

Revenue from operations during the quarter under review stood at Rs 20,965.25 crore. It was at Rs 17,363.24 crore in the corresponding period of the previous fiscal. The company’s total expenses were at Rs 18,747.22 crore during the quarter.

The results are not comparable with that of the previous period as it includes financial results of Viscose Filament Yarn (VFY) business of Century Textiles and Industries, whose management rights was acquired by it, and cement plants acquired from Jaiprakash Associates and Jaypee Cement Corporation, the company said.

Besides, it also includes the financial result of erstwhile Aditya Birla Nuvo Ltd (ABNL) and its subsidiaries, it added.

“The total capex plan of Rs 6,454 crore is under execution for raising capacities in both the viscose staple fibre (VSF) and chemical businesses, besides modernisation of various plants. The company is also planning to set up a VSF plant at Vilayat in Gujarat. The brownfield capacity expansion plan of 219 KTPA is progressing well and is scheduled to be commissioned in 2020-21,” MD, Grasim Industries, Dilip Gaur said.

NT Bureau