Grasim Industries posts 3% rise in Q2 profits

The consolidated net proft of Aditya Birla Group firm Grasim Industries increased by 3 percent rise to Rs 1,521 crore for the second quarter ended September 2020, as against a net profit of Rs 1,473 crore it posted in the year-ago period. The company’s revenue for the quarter was flat at Rs 18,400 crore, as against Rs 18,400 crore in the corresponding period of the previous fiscal.

Grasim Industries total expenses rose by 4 percent to Rs 16,411 crore, as against Rs 17,039 crore in the year-ago period. It has been a resilient September quarter for Grasim due to strong recovery in demand and the government working relentlessly to support home-grown businesses by injecting doses of fiscal and monetary stimulus on a timely basis. The unlock measures across the country led to a steady increase in consumer spending, which the company expects to be further boosted with the onset of the festive season.

Grasim Industries is the largest producer and seller of viscose staple fibre with a market share of almost 100 percent in India.