Consolidated Financial Performance :
Grasim Industries Limited, an Aditya Birla Group Company, announced its results for the quarter ended 31st December, 2013. The Company’s performance was constrained due to subdued economic conditions. Revenue at Rs 7,120 crore grew by 5% over the corresponding quarter last year. Net Profit was Rs 332 crore as against Rs 549 crore.
Viscose Staple Fibre
VSF business has recorded volume growth, supported by increased capacity at Harihar. Production increased by 4% over the last year. Sales volume at 97,049 MT was up by 24%, led by better performance in both domestic and exports markets.
The Company was able to maintain the realizations, despite the sharp fall in the international prices, supported by the rupee depreciation. The input costs have gone up due to the increase in pulp prices coupled with rupee depreciation.
The performance of the Pulp JVs was affected on account of planned maintenance shutdowns. The anti-dumping duty levied in China impacted realizations and the volumes of pulp sold in China.
Cement Subsidiary (UltraTech Cement)
The combined cement and clinker sales volume increased marginally at 10.76 Mn. Tons. The Industry volumes remained flat due to the continued slow down in the Indian economy. Based on continuous cost optimization measures, the business has been able to contain the cost. Net Revenue stood at Rs.5,173 crore (` 5,164 crore). Net Profit was at Rs.395 crore (` 608 crore).
Chemical Business
The Chemical business reported a growth of 14% in sales volumes. ECU realizations improved over Quarter 2 but were flat on a YoY basis. The operations at Vilayat (Gujarat), which were impacted by the floods, have resumed in December, 2013 and are being ramped up in a phased manner.
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