Grasim industries posts marginal rise in net profit at Rs.67.18 bnJuly 25th, 2008 - 4:28 pm ICT by IANS
Mumbai, July 25 (IANS) Grasim Industries, flagship company of the Aditya Birla Group, has posted a marginal rise in net profit at Rs.67.18 billion for the quarter ending June 2008 as compared to Rs.66.96 billion for the corresponding period of the previous year. The total income of the company has increased from Rs.414.74 billion for the quarter ended June 30, 2007 to Rs.452.44 billion for the quarter ended June 30, 2008.
The company said in a statement here that viewed in the context of the economic slowdown and rise in key input costs the results have been satisfactory.
The company’s Viscose Staple Fibre business for the quarter was muted. Profit margins in the business are likely to remain under pressure in the short to medium term, owing to escalating prices of key inputs, the statement said.
The company’s cement business posted a moderate performance. Production increased by 3 percent to 3.99 million tonnes.
Tags: aditya birla group, bn, cement business, economic slowdown, flagship company, grasim industries, input costs, marginal rise, moderate performance, net profit, performance production, previous year, profit margins, quarter ended june, viscose