Aditya Birla Group firm Grasim Industries today reported a consolidated net profit of Rs 853.62 crore for the fourth quarter ended March 2018.
The company had posted a net profit of Rs 1,063.62 crore during the January-March period of the previous fiscal, Grasim Industries said in a regulatory filing.
Total income during the quarter under review stood at Rs 17,691.80 crore. It was Rs 11,409.41 crore in the corresponding period of the previous fiscal.
Meanwhile, the company said its result was not comparable as the consolidated result of the company also includes the financial results of cement plant acquired by UltraTech, a subsidiary of the company from Jaiprakash Associated.
"Hence, the results of the three months and year ended March 31, 2017 are not comparable with the corresponding periods of previous year," the company said.
Its total expenses were at Rs 15,893.34 crore.
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Grasim Industries' revenue from cement business during the quarter was Rs 9,420.76 crore. It was Rs 7,923.80 crore in the corresponding quarter a year ago.
"During Q4FY18 and FY18 the consolidated sales volume registered an increase of 15 per cent and 20 per cent on YoY basis. The input costs continued to rise in Q4FY18, due to higher pet coke and coal prices and the ban on pet coke usage in TPP," said Grasim Industries in a statement.
While viscose staple fibre (VSF) was at Rs 2,332.45 crore as against Rs 2,115.10 crore.
"The VSF business reported its highest ever sales volume of 508KT in FY18, led by growth in the domestic market with intense market development efforts," it added.
For the entire 2017-18, Grasim Industries' net profit stood at Rs 3,687.62 crore. It was Rs 4,245.61 crore in 2016-17.
Total income of Grasim Industries stood at Rs 58,328.43 crore as against Rs 41,194.93 crore in 2016-17.
Over the outlook, the company said that VSF business will continue to focus on expanding the market in India.
"However, the new capacities likely to come on stream in China may impact the global VSF prices in the near term," it said.
While, in cement, government's spending on infra projects, rural and affordable housing will be the key demand drivers.
Meanwhile in a separate filing, Grasim Industries informed that its board in a meeting held today has recommended 310 per cent dividend i.e. Rs 6.20 per equity share of face value Rs 2/- each for the year ended March 31, 2018.
Shares of Grasim Industries today settled at Rs 1,046.65 apiece on BSE, up 0.61 per cent from the previous close.
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