Grasim Industries’ fourth-quarter net profit rose 0.75% to ₹1,064 crore compared with ₹1,056 crore in the year-ago period on the back of a better performance from its viscose staple fibre and pulp business, which offset a 10% fall in EBITDA from the cement business.
The company reported a 5% growth in revenues to ₹11,140 crore.
Cement business
“The cement business delivered better than the industry average as we had a capacity utilisation of 82% compared to industry average of 70%,” Aditya Birla Group CFO Sushil Agarwal told The Hindu. “In VSF business, the volumes were up by 2%, realisations were up by 11% and EBITDA was up by 30% at ₹345 crore.”
Grasim shares on BSE closed at ₹1,121.3 in a flat Mumbai market on Friday.
On the amalgamation of Aditya Birla Nuvo into Grasim, it said that it has received shareholders and creditors approvals and is awaiting a nod from NCLT and stock exchanges for the scheme to be effective from the second quarter of FY’18.
