Grasim Industries Ltd., part of Aditya Birla Group, reported around fourfold jump in its consolidated net profit of Rs. 2,447.97 crore for the first quarter ended June 2021.
The company said in a regulatory filing that it posted a net profit of Rs. 616.99 crore during the April-June quarter of the previous fiscal.
Its revenue from operations was up 52.72 per cent at Rs. 19,919.40 crore during the quarter under review as against Rs. 13,043.51 crore in the corresponding period of the previous fiscal.
Its revenue from viscose-pulp, viscose staple fibre (VSF) and filament yarn segment was up over threefolds to Rs. 2,102.76 crore in Q1/FY2021-22 as against Rs. 557.68 crore a year ago.
However, sequentially the segment has witnessed a degrowth of 17.9 per cent as it was at Rs. 2,583.40 crore in the January-March quarter.
“India observed selective restrictions on the business activities during most of Q1 FY22, which impacted the sale of textile products, leading to an accumulation of inventory in the value chain. Consequently, the VSF sale volume registered sequential degrowth in Q1 FY22,” it said.
Over capex plan, Grasim Industries said commissioning of VSF expansion of two lines at Vilayat, Gujarat is as per schedule. Line 1 is expected to be commissioned in Q2 and Line 2 in Q3 of the current financial year.
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