Grasim net surges 61%

Written by fe Bureaus | Mumbai | Updated: Oct 30 2009, 05:44am hrs
Aditya Birla Group company Grasim Industries Ltd on Thursday reported a 61% increase in its consolidated net profit to Rs 781 crore for the second quarter ended September 2009 against Rs 486 crore in the corresponding quarter last year. Consolidated net revenues during the quarter stood at Rs 4,743 crore, up 6% compared to Rs 4,486 crore in Q2 FY09.

The cement business posted a robust performance during the quarter as production, supported by capacity expansion, expanded 27% at 4.63 million tonne, said Adesh Gupta, CFO, Grasim.

Grasim's sales volumes registered an increase of 23% at 4.56 million tonnes on the back of strong demand growth in the northern and eastern regions.

Slowdown in real estate impacted the companys RMC (ready mix concrete) performance. However, higher volumes, softening of fuel prices and enhanced share of captive power resulted in better operating margins, Gupta added.

For the half year ended September 2009, Grasims net grew 61% to Rs 1,861 crore against Rs 1,158 crore in the corresponding period last year.