Grasim Q3 net rises 23% to Rs 164 crore

Grasim Industries, the Aditya Birla group flagship, has posted a 23 per cent jump in net profit at Rs 163.7 crore for the third quarter ended December 31 against Rs 132.9 crore in the corresponding quarter of the previous year.

Net turnover rose 14 per cent at Rs 1,335.4 crore (Rs 1,166 crore). While interest outgo dipped 3 per cent at Rs 39.4 crore (Rs 40.4 crore), depreciation costs went up 9.9 per cent at Rs 69.47 crore (Rs 63.2 crore).

Revenue from the company's cement division increased 7.47 per cent at Rs 586.23 crore (Rs 545.46 crore). The fibre and pulp segment recorded a 17.7 per cent growth to Rs 486.41 crore (Rs 413.12 crore).

Grasim's net for the nine months (April 2003 to December 2003) increased 35.4 per cent at Rs 497.19 crore, against a net profit of Rs 367.09 crore in the corresponding period of the previous year. Net sales for the period rose 7.9 per cent at Rs 3,687 crore (Rs 3,414 crore).