Grasim Q4 net profit down 8%
Total income has increased 12%, from R6,482.25 crore a year ago to R7,289.16 crore in the fourth quarter. For the full year ended march 31, Grasim had a net profit of R2,647.46 crore compared to R2,279.01 crore a year ago. Net total income was at R25,244.30 crore compared to R21,550.23 crore. The company’s board has recommended a dividend of R22.50 per share. Shares of the company were down 2.12% on Friday to close at R2,422.85.
In VSF, sales volumes for the quarter was at 94,904 tonnes, up 11% led by higher exports. “This was despite slowdown in the euro-zone, which impacted textile demand and addition of new capacities in China,” Grasim said in a media release. Average realisations for the fourth quarter were lower by 16% on Y-o-Y basis as prices were at their peak, in line with competing fibre prices in the corresponding quarter of last year.
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