Grasim Industries' net profit jumps 23.1 pc to Rs 2,655.45 cr in Dec quarterNew Delhi: Aditya Birla Team firm Grasim Industries Ltd on Monday described a 23.10 for every cent bounce in its consolidated net income to Rs 2,655.45 crore for the third quarter ended on December 31, 2021. The organization had posted a net profit of Rs 2,157.12 crore throughout the October- December quarter of the earlier fiscal 12 months, Grasim Industries said in a regulatory filing.

Its profits from operations for the duration of October-December 2021 rose 6.20 for every cent to Rs 2,4402.24 crore, in opposition to Rs 21,000.13 crore in the calendar year-back period of time.

“Grasim carries on with the momentum of potent functionality,” the corporation mentioned in an earnings statement.

It further added that its “web financial debt stands at zero with the completion of disinvestment of fertiliser business on January 1, 2022, on a standalone business”.

Grasim Industries’ full expenses stood at Rs 21,702.61 crore in the December 2021 quarter, a increase of 8.57 per cent as against Rs 18,303.12 crore a calendar year in the past.

Its income from the viscose-pulp, viscose staple fibre (VSF) and filament yarn segment jumped 55.48 for each cent to Rs 3,335.44 crore in Q3/FY2021-22 as versus Rs 2,145.14 crore a calendar year ago.

“The robust operational functionality of VSF has been induced by strong demand for textile solutions in India for the duration of Q3FY22, in spite of the curbs imposed by many point out governments. The domestic textile value chain has been running near to its peak capability, which is led by the need uptick,” claimed Grasim Industries.

The VSF sales volume for Q3FY22 have been further boosted by the commissioning of brownfield (existing) enlargement (300 TPD) at Vilayat.

The development in the world-wide demand from customers for textile products in the US and Europe also led to a positive demand from customers setting for VSF.

Earnings from its subsidiary and primary cement maker UltraTech Cement rose 5.89 per cent to Rs 12,984.93 crore in December 2021 quarter, in comparison with Rs 12,262 crore a calendar year ago.

“The business reported an Ebitda (earnings just before fascination, tax, depreciation and amortisation) of Rs 2,490 crore and product sales quantity stood at 23.13 MTPA,” it stated.

Its profits from the chemicals segment jumped 82.53 for every cent to Rs 2,338.21 crore, towards Rs 1,280.96 crore of Q2/FY 2020-21.

“Intercontinental caustic soda prices managed an upward trajectory in Q3FY22, for the fourth straight quarter. The domestic caustic soda charges mirrored the global craze in caustic price ranges, potent domestic desire conditions also supported the charges,” mentioned Grasim.

Revenue from the financial services segment, Aditya Birla Capital Ltd (ABCL), jumped 11.53 per cent to Rs 5,599.93 crore as from Rs 5,020.95 crore a 12 months ago.

“ABCL remains centered on maximising the value of the lively customer base of 31 million while continuing to push purchaser acquisition at scale,” reported Grasim.

The NBFC and housing finance lending guide grew 7 for each cent to Rs 61,411 crore in the December 2021 quarter.

Although earnings from other segments enhanced 43.32 per cent to Rs 623.78 crore, versus Rs 435.21 crore a calendar year ago.

Grasim, which experienced last year introduced to enter into the paint business, claimed, “The organization has acquired the environmental clearance for two of its plant internet sites at Panipat and Ludhiana of the 5 websites as section of its pan-India footprint for paints production.”

Shares of Grasim Industries Ltd on Monday shut at Rs 1,649.05 apiece on the BSE, down 3.92 per cent from the prior close.