Diversified business firm Grasim Industries today posted a consolidated net profit of Rs 864.61 crore for the quarter ended March 31, 2011.
The company, which is engaged in several businesses including cement, textiles and chemicals, had a net profit of Rs 654.48 crore in the quarter ended March 31, 2010, Grasim Industries said in a filing to the Bombay Stock Exchange (BSE).
The company has also recommended a dividend of Rs 20 per share for the year ended March 31, 2011. The total outflow on account of the dividend would be Rs 197 crore, it said.
"The consolidated net profit for the year ended March 31, 2011, is not comparable with previous year due to demerger of erstwhile cement business of the company to Samruddhi Cement (SCL) and subsequent amalgamation of SCL with UltraTech Cement with effect from July 1, 2010, and consequent issue of equity shares by SCL and UltraTech," the firm said.
During the quarter under review, the Aditya Birla group firm had sales of Rs 6,390.34 crore while it had Rs 5,385.68 crore in the year-ago period.
For the year-ended March 31, 2011, the company's consolidated net profit stood at Rs 2,264.79 crore. It posted a net profit of Rs 3,095.53 crore in the previous fiscal.
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During the period, the firm's net sales stood at Rs 21,269.02 crore while it posted Rs 19,933.42 crore in the previous fiscal.
On a standalone basis, the firm's net profit during the quarter ended March 31, 2011 stood at Rs 395.54 crore. It had a net profit of Rs 289.35 crore in the year-ago period.
During the quarter, the company had a standalone net sales of Rs 1,425.81 crore while it had Rs 1,103.66 crore in the same period previous fiscal.
For the year ended, March 31, 2011, the firm's standalone net profit was at Rs 1,181.71 crore while it recorded Rs 2,092.10 crore in the previous fiscal.
The firm's standalone net sales during the period stood at Rs 4,517.04 crore. In the same period previous fiscal, it had a net sales of Rs 8,172.11 crore.
Shares of Grasim Industries closed at Rs 2,361.95 on the BSE, up 0.29% from the previous close.