Grasim Industries, a part of the Aditya Birla group, has posted a decline of 36.26 per cent in consolidated net profit for the quarter ended December 2008 to Rs 459.55 crore, compared to Rs 720.99 crore in the corresponding previous quarter. The company’s consolidated net sales grew to Rs 4,587.86 crore during the period from Rs 4,317.18 crore last financial year, up 6.27 per cent.
On a standalone basis, the company’s net profit dipped to Rs 329.56 crore from Rs 553.79 crore, down 60.49 per cent. The net sales marginally grew to Rs 2,653.57 crore from Rs 2,593.10 crore, up 2.33 per cent.
The company, which has its exposure to businesses like cement, viscose staple fibre (VSF), sponge iron and caustic soda, witnessed a negative growth in sales volumes of VSF and sponge by 22 per cent and 15 per cent, respectively.