Grasim Industries Ltd on Saturday said it had posted a growth of 53.9% in its consolidated net profit at Rs 669.67 crore for the first quarter ended June 2007 against Rs 435.25 crore in the corresponding quarter last fiscal.
The group?s total income for Q1FY08 was up 26% at Rs 4,063 crore from Rs 3,213 crore in Q1FY07. On a standalone basis, Grasim?s net profit rose 64% to Rs 511.66 crore compared with Rs 311.90 crore in the same quarter last year. Total income increased 30.2% to Rs 2,512.53 crore from Rs 1,929.20 crore last year. ?VSF and cement business, which put in a commendable performance, have been the growth drivers,? the company said. It plans to sell or transfer its textile units Bhiwani Textile Mills and Elegant Spinners at Bhiwani to a subsidiary of the company.
