New Delhi: Grasim Industries, a part of Aditya Birla Group, Friday reported a consolidated net profit of Rs 1,531.86 crore for the fourth quarter ended March 2019.
The company had posted a net profit of Rs 853.62 crore during the January-March period 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 Limited (ABNL) and its subsidiaries, it added.
Grasim Industries' revenue from cement business during the quarter stood at Rs 10,905.15 crore. It was at Rs 9,290.29 crore in the corresponding quarter last year.
"The consolidated sales volume registered an increase of 16 percent on YoY basis to 22 MTPA," Grasim said in a statement.
Revenue from viscose segment was at Rs 2,624.81 crore in January-March. It was at Rs 2,231.38 crore a year ago.
"For January-March 2018-19 the production and sales volume was at 130 KT and 139 KT, respectively, recording an increase of 15 percent and 13 percent YoY," it said.
Revenue from chemicals segment was at Rs 1,687.93 crore. It was at Rs 1,438.61 crore a year ago.
The revenue from financial services was at Rs 4,702.50 crore during March quarter. It was at Rs 3,475.76 crore in the corresponding quarter last year.
For the financial year 2018-19, Grasim Industries' net profit stood at Rs 2,775.95 crore. It was at Rs 3,687.62 crore in 2017-18.
Revenue from operations for 2018-19 fiscal stood at Rs 72,970.64 crore. It was at Rs 57,033.67 crore in 2017-18.
Meanwhile, in a separate filing the company informed that its Chief Financial Officer (CFO) Sushil Agarwal has resigned.
It has appointed Ashish Adukia as the new CFO. His appointment would be effective from 1 July, 2019.
On the outlook, it said its viscose, staple fibre and filament yarn business will continue to focus on expanding the market in India, while the chemical business would continue the brownfield expansion projects.
The government's thrust on infrastructure development viz. construction of cement concrete roads, metro rail networks, airports, DFC, irrigation projects and increase in the pace of execution under the low cost housing program supported strong volume off-take of cement, it said.
"All of these are expected to result in sustained demand growth for cement going forward. This augurs well for the industry," it said.
The company's board has recommended a dividend of Rs 7 per equity share of face value of Rs 2 each for the year ended 31 March, 2019.
Shares of Grasim Industries Friday settled at Rs 908.30 on the BSE, up 2.46 percent from its previous close.
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Updated Date: May 24, 2019 18:42:44 IST