Economy & Market
Grasim Q2 profit falls 27percent at Rs. 450 cr
The net profit of Grasim Industries for the second quarter (July-September) fell by 27.3 per cent year-on-year to Rs 450.3 crore, impacted by cement business that contributes more than 70 per cent to total revenues. The Aditya Birla Group-owned company's consolidated net sales increased 3.6 per cent to Rs 6,801 crore in three-month period ended September 2013 from Rs 6,562 crore a year ago, driven by viscose staple fibre (VSF) and chemical segments. Grasim said that capacity expansions in VSF and cement will provide additional volumes, driving growth and further consolidate the company's leadership.