Aditya Birla Group company Grasim Industries today posted a 30.71% increase in its consolidated net profit to Rs 751.67 crore for the first quarter ended June 30, 2011.
During the first quarter of the last financial year, the company's net profit was Rs 575.06 crore, it said in a filing to the Bombay Stock Exchange (BSE).
Grasim Industries' consolidated net sales for the three months ended June 30, 2011, increased by 16.15% to Rs 5,872.10 crore, as against Rs 5,055.19 crore in the corresponding period of last fiscal.
The consolidated sales include revenues of its businesses -- textiles, viscose staple fibre (VSF), chemicals and cement.
"The company has recorded higher revenue and net profit led by better performance of VSF and cement," it said in a statement.
During the quarter, the firm acquired one third equity stake in Aditya Holding AB, Sweden, for a consideration of Rs 274.89 crore.
Aditya Holding AB, Sweden has acquired pulp manufacturing company Domsjo Fabriker AB, Sweden.