Aditya Birla Group-company, Grasim Industries, reported mixed results in Q3FY24 as the company’s revenue from operations surged by 11.61 per cent Y-o-Y to Rs 31,965.48 crore while net profit declined by 41.5 per cent to Rs 2,603.43 crore.
The company’s attributes the growth in its revenue during the quarter to a strong performance by Grasim's subsidiaries including UltraTech Cement and Aditya Birla Capital. On the other hand, the dip in the company’s profitability is attributed to factors like rising raw materials costs and increased operational expenses.
During the third quarter, Grasim's profit after tax adjusted for certain non-recurring items increased by 48 per cent Y-o-Y.
Revenue from the viscose-pulp, viscose staple fibre, and filament yarn segments surged to Rs 3,714.58 crore during the quarter.
