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 12 months 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 offered assist to a number of sectors resulting in a broad-based financial restoration.
“The recovery in the demand has been accelerated by greater consumer confidence on the back of launch of vaccination programme across the world,” 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 authorized Rs 5,477 crore in the direction of capability enlargement of 12.eight million tonnes each year via a mixture of greenfield and brownfield enlargement.
The monetary providers 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 very best ever reported thus far.
Grasim mentioned that internet 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 value despite the fact that the realisations have been decrease.
Similar to all commodities, pulp costs have additionally firmed up and are prone to enhance additional going ahead.
Net 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 authorized a foray into the paints enterprise with preliminary capital expenditure of Rs 5,000 crore over the following three years.
The firm says that this sector is prone to be worth accretive to its stakeholders. “The entry of Grasim in paints sector will offer a wide choice to Indian consumers as the company plans to introduce the latest range of paint products in line with global megatrends.”