Grasim’s Profit After Tax Jumps To Rs 1,384 Crore in Q3

Aditya Birla Group’s flagship firm Grasim Industries on Friday reported a consolidated revenue after tax (PAT) of Rs 1,384 crore within the third quarter ended December (Q3 FY21) — clocking a progress of 103 per cent from Rs 680 crore in Q3 FY19.

Consolidated income for the quarter was up 13 per cent to Rs 20,986 crore from Rs 18,617 crore in the identical interval final yr whereas consolidated earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) jumped by 52 per cent to Rs 4,476 crore from Rs 2,945 crore.

The diversified firm mentioned that the federal government’s far-sightedness in offering well timed stimulus within the aftermath of Covid-19 supplied help to a number of sectors resulting in a broad-based financial restoration.

“The restoration within the demand has been accelerated by higher shopper confidence on the again of launch of vaccination programme the world over,” it mentioned.

The cement subsidiary — UltraTech Cement Ltd — had consolidated income at Rs 12,254 crore, EBITDA of Rs 3,362 crore and revenue after tax of Rs 1,584 crore for Q3 FY21.

The UltraTech board has accepted Rs 5,477 crore in direction of capability growth of 12.8 million tonnes each year by a mixture of greenfield and brownfield growth.

The monetary companies subsidiary Aditya Birla Capital posted 17 per cent hike in consolidated income for the quarter at Rs 5,026 crore. PAT grew by 16 per cent to Rs 289 crore, the best ever reported up to now.

Grasim mentioned that web income for the viscose phase stood at Rs 2,145 crore in Q3 FY21 and EBITDA at Rs 482 crore improved considerably on the again of upper gross sales volumes, higher product combine and decrease price although the realisations had been decrease.

Much like all commodities, pulp costs have additionally firmed up and are prone to enhance additional going ahead.

Web income for the chemical enterprise in Q3 FY21 stood at Rs 1,281 crore and EBITDA at Rs 177 crore — near pre-Covid ranges.

The board of administrators has already accepted a foray into the paints enterprise with preliminary capital expenditure of Rs 5,000 crore over the subsequent three years.

The corporate says that this sector is prone to be worth accretive to its stakeholders. “The entry of Grasim in paints sector will provide a large option to Indian shoppers as the corporate plans to introduce the most recent vary of paint merchandise in step with international megatrends.”