Grasim announces Q2 FY ’17 financial results | Trade News India
Home » News » Trade News » Grasim Announces Q2 Fy 17 Financial Results

Grasim announces Q2 FY ’17 financial results

Share: 
      Newsletter

READ MORE ON Aditya Birla GroupFinancial ReportGrasimTrade News India

Financial Report

Image Courtesy: jobsought.com

India-based Grasim Industries has posted a befitting second-quarter consolidated financial performance. The consolidated net profit registered a growth of 50 per cent to Rs. 846 crore compared to Rs. 526 crore for the second-quarter last year. The consolidated revenue rose from Rs. 8,166 crore in the second-quarter of previous year to Rs. 8,387 crore this year. Consolidated net sales also increased from Rs. 9,016.23 crore previous year to Rs. 9,261.78 crore in the current year.

Viscose Staple Fibre’s (VSF) sales volume grew by 9 per cent year on year which was led by 19 per cent growth in domestic markets. With higher volume and realisation, revenue in the segment soared by 21 per cent to Rs. 1,740 crore.

Also ReadGrasim’s VSF business up 8 per cent

The outlook for the VSF business is expected to remain stable. The business will continue to focus on expanding the VSF market in India by partnering with the textile value chain, achieving better customer connect through brand LIVA and enriching the product mix through a larger share of speciality fibre. The company is working on de-bottlenecking opportunities to meet growing demand.

 

Have some news? Let us know on news@apparelresources.com

Recommended by Apparel Resources

Fitch: Continued positive momentum for China sportswear

China's sportswear industry should see continued expansion over the next few years, with the segment proving to be resilient amid the country's challenging...

Vietnam’s partnership with Thailand to boost textile and garment industry

Vietnam is all set to join hands with Thailand in the field of textiles, design and administration. Vietnam has the skills and potential...

Cambodian Labour Ministry suggests manufacturing firms to beat the heat

The Cambodian Labour Ministry has announced that manufacturers in the textile, garment and footwear industry must take initiatives to stop employees from fainting...

NCTO endorses Donald Trump’s policies to stimulate US textile sector

The 14th NCTO Annual Meeting in Washington DC was held on 23rd March with the prime focus on “how history went on to...

Myanmar garment sector needs more than 100,000 employees

According to Myanmar Garment Entrepreneurs Association (MGEA), ever since the European Union (EU) has lifted economic sanctions, the garment sector in Myanmar has...

EPCH welcomes joint venture between Indian, US companies

India’s Export Promotion Council for Handicrafts (EPCH) is delighted to welcome a major ‘USA’s  Buying Account to India’ signed in Noida, Uttar Pradesh on March 24, 2017 between Currey of...

National Council of Textile Organizations elects new Chairman

At its 14th Annual Meeting in Capital Hilton, Washington DC, on 23rd March, National Council of Textile Organizations (NCTO) has elected William ‘Bill’...

New York gets US $ 51.3 million package to stabilize garment manufacturing

The New York City Economic Development Corporation (NYCEDC), in collaboration with the Council of Fashion Designers of America (CFDA) and the Garment District...

Alvanon, BodiData partner to strategize custom solutions for US apparel industry

Taking apparel industry expertise to a whole new level, a strategic partnership agreement has been signed between the global apparel business expert – Alvanon and Silicon Valley-based database technology company...

EU threatens Bangladesh of GSP suspension

The European Union (EU), which currently accounts for just over 62 per cent of all Bangladesh’s garment exports, has threatened the country of...