Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Grasim Jul-Sep net up 29% at Rs 418 cr

Oct 22 2011, 22:32 IST
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SummaryGrasim Industries today reported a 29 per cent rise in net profit at Rs 418 crore.

Aditya Birla Group flagship Grasim Industries today reported a 29 per cent rise in net profit at Rs 418 crore for the July-September quarter, driven by improved performance of its cement and viscose staple fibre (VSF) businesses.

The company's Q2 net profit stood at Rs 323 crore in FY11, Grasim said in a statement.

Total revenue for the quarter grew 28 per cent to Rs 5,774 crore compared to Rs 4,503 crore in the corresponding quarter last year.

The company feels the environment in both the businesses, VSF and cement, will continue to be challenging.

In VSF, it said, the demand is expected to be volatile due to the poor macroeconomic conditions and the uncertainties in the Eurozone area, while in the cement business, surplus scenario is likely to subside gradually over the next two-three years with expected growth in demand.

As the situation improves gradually, Grasim will be benefited by its backward integration and cost leadership in its VSF business, and brand image, distribution network and operating efficiency in cement business, it said.

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