IANS

MUMBAI – Grasim Industries Ltd on Thursday reported a sharp 40% year-on-year (YoY) fall in consolidated net profit for the quarter ended December 2023 to Rs 1,514.44 crore. Consolidated revenue increased by nearly 12% to Rs 31,965.50 crore.

Sequentially, the bottom line surged over 30%, and the topline grew by nearly 6%.

Consolidated EBITDA for the quarter increased 41% year-on-year to Rs 6,893 crore, compared with Rs 4,884 crore in the previous year quarter. Meanwhile, margins improved to 21.6%.

The viscose segment exhibited stable performance during the quarter despite weak global scenario. The business reported revenue of Rs 3,715 crore and EBITDA of Rs 402 crore for the third quarter, up 17% and 535% YoY, respectively, though sequentially down by 4% and 14%, respectively.

The company’s VSF volumes stood at 205 KT up by 34% YoY and down 2% QoQ. EBITDA margins improved YoY on the back of higher sales volume and a reduction in input prices.

Viscose Filament Yarn (VFY) business margins declined due to lower sales volume and realisations on account of increasing imports from China.

The company witnessed continued weakness in global caustic soda prices coupled with an oversupplied domestic market impacted Chemicals segment.

Chemicals business revenue was at Rs 1,996 crore, which was flat on a quarter-on-quarter basis and down 23% year-on-year. EBITDA for the quarter was up 12% quarter-on-quarter and down 46% year-on-year to Rs 264 crore.

On Thursday, Grasim Industries shares closed 1.96% lower at Rs 2,070 on NSE.