NEW DELHI: Grasim Industries on Monday said its standalone net profit for the December quarter surged 46 per cent to Rs 522.47 crore from Rs 357.87 crore in the same quarter last year.

The revenue from operations for the quarter came in at Rs 5,784.74 crore, up 56.48 crore compared to Rs 3,696.61 crore in the year-ago quarter.

On the consolidated basis, net profit from continuing operations stood at Rs 2,621.96 crore, up 23.09 per cent against Rs 2,130.10 crore in the same quarter the previous year. Revenue from operations stood at Rs 24,402.24 crore, up 16.20 crore.

Grasim said its net debt stands at zero with the completion of disinvestment of fertiliser business on 1st January 2022, on a standalone business.

The growth in the global demand for textile products in the US and Europe led to a positive demand environment for its viscose business, while in the chemical segment, international caustic soda prices maintained an upward trajectory in Q3FY22, for the fourth straight quarter.

“The domestic caustic soda prices mirrored the global trend in caustic prices, strong domestic demand conditions also supported the prices,” the firm said.

The company’s advanced materials business witnessed a YoY improvement in the operational and financial performance driven by a better product mix on the back of strong demand from the wind power segment.

Meanwhile, its paint business has received environmental clearance for two plant sites at Panipat and Ludhiana of the five sites as part of its pan-India footprint for paints manufacturing.

The company claimed it saw successful commissioning of expansion projects in Vilayat brownfield VSF project of 220 KTPA commissioned in two phases, 110 KTPA in Nov-21 and the balance 110 KTPA in Feb-22. It also saw commissioning of Caustic Soda plant of 117 KTPA (BB Puram, Andhra Pradesh phase-1: 26KTPA and Rehla, Jharkhand: 91KTPA) in Dec-21.

Shares of the company traded down nearly 4 per cent amid selling in the broader market.