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Grasim posts excellent performance for Q4 2007

28
Apr '07
Grasim an Aditya Birla Group company, has posted excellent performance for the quarter ended 31 March 2007. Consolidated revenues increased by 40 per cent from Rs.2,926 crore to Rs.4,107 crore. Net profit rose by 60 per cent from Rs.349 crore to Rs.559 crore, despite a substantially higher provision for tax expenses, which were up by 183 per cent at Rs.335 crore. Grasim's superior performance has been driven by its VSF business, cement business and its subsidiaries.

The FY 2007 results too have been impressive. Higher capacity utilisation, increased realisation and strengthening of operational efficiencies resulted in both revenues and profits surpassing their previous levels. Consolidated revenues, at Rs.14,167 crore, reflected a 38 per cent growth.

EBITDA crossed the USD 1 billion mark for the first time ever, at Rs.4,290 crore. Net profit grew sharply by 89 per cent at Rs.1,968 crore. Its VSF and cement businesses reported an admirable performance, which led to the surge in revenues and earnings during the year.

Grasim's results, both for the quarter and the full year, crossed all previous records. While revenues for the quarter grew by 36 per cent at Rs.2,494 crore, net profit rose admirably by 81 per cent at Rs.474 crore.

For the year under review, net profit was at Rs.1,536 crore, historically the highest. The notable performance by its cement and VSF businesses continued. The sponge iron business showed a marked improvement.

The VSF business turned in a very good performance. Production, sales and profitability were at an all time high. The strong demand for cellulosic fibres coupled with the company's strategy of increased focus on specialty fibres and concentrating on emerging textile hubs has resulted in a record performance.


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