Aditya Birla Group’s textile manufacturing business Grasim Industries reported a 11.61% year-on-year increase in revenue from operations in the third quarter of the 2024 financial year. However, the business’ net profits dropped by 41.5%.
Grasim Industries’ net profits totalled Rs 2,603.43 crore in the third quarter of the 2024 financial year, which ended in December 2023, the Press Trust of India reported citing a regulatory filing. The business had reported a net profit of Rs 4,454.59 crore in the third quarter of the 2023 financial year.
Revenue rose to Rs 31,965.48 crore in the December quarter compared to Rs 28,637.86 crore in the third quarter of the 2023 financial year. Grasim Industries attributed the majority of this revenue increase to its UltraTech Cement and Aditya Birla Capital subsidiaries.
Grasim Industries’ profit after tax “was up by 48% year-on-year on a comparable basis,” reported the business in its regulatory filing, the PTI reported. The business also reported expenses totalling Rs 28,749.44 crore for the third quarter of the 2024 financial year and a total income of Rs 32,221.97 crore.
The business’ viscose-pulp, viscose staple fibre, and filament yarn segments’ revenue totalled Rs 3,714.58 crore during the December quarter. Grasim Industries was incorporated in 1947 as a textiles manufacturing business and is a flagship company of the Aditya Birla Group.
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