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.
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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.