MUMBAI: Aditya Birla Group firm Grasim Industries reported a 17% increase in consolidated net profit to Rs 489 crore for the September end quarter. Total consolidated revenue for the company stood at Rs 8,393 crore.

The company produces viscose staple fibre (VSF) used in apparel and cement that makes more than 90% of their revenues. “The Company will continue to focus on expanding its domestic market through product development activities, working closely with brands, designers and retailers. A better customer connect through Brand Liva is leading to growth in demand for VSF based products in the textile value chain,” said the firm in a statement.

Revenue for viscose staple fibre (VSF) increased by 13% driven by higher sales, said the firm. The firm said that revenue for UltraTech Cement for the quarter was up by 4% despite subdued demand growth in the industry.

In their chemical business, revenue was up by 26% with a volume growth of 20% in caustic Soda and 68% in Epoxy.

“In the VSF business, prices are likely to be influenced by the developments in the industry such as the resumption of operations at some of the shut capacities in China and prices of competing fibres,” said the company in the statement.