Aditya Birla Group firm Grasim today reported a 40 per cent jump in net profit at Rs 724 crore for the March quarter as compared to Rs 516 crore in the same period last year.
“The revenue increased by 13 per cent at Rs 10,001 crore in the March quarter as against Rs 8,817 crore in the same period last year due to robust volume growth in VSF, chemicals and cement businesses,” a company statement said here.
For the full year, consolidated revenue was higher by 12 per cent to Rs 36,637 crore and net profit increased to Rs 2,387 crore as compared to Rs 1,753 crore last year.
The Board of Directors has recommended a higher dividend of Rs 22.5 per share as against Rs 18 per share in the previous year. The total outflow on account of the dividend will be Rs 221 crore, inclusive of the corporate tax on dividend.
The viscose staple fibre (VSF) division’s revenue increased by 23 per cent at Rs 1,729 crore. Sales volume grew by 10 per cent at 130,000 TPA helped by additional volume from Vilayat plant and concerted efforts towards market expansion, it said.
The chemical division’s revenue doubled to Rs 957 crore as against Rs 429 crore in the fourth quarter of 2014-15. Caustic soda volume at 204,000 tonnes was up by 95 per cent. Volumes in existing operations grew by 15 per cent.