Media365
Grasim Industries Ltd., a part of the Aditya Birla Group, reported 41% decline in consolidated net profit to ₹899 crore [profit attributed to owners of the company] for the third quarter ended December 31, 2024 from ₹1,514 crore in the year-ago period.
Higher interest and depreciation charges on account of investments in the Building Materials businesses led to the lower net profit, the company said. Consolidated revenue stood at ₹34,793 crore, up 9% year on year (YoY), driven by the all-round growth across key businesses, the company said.
Consolidated EBITDA at ₹4,668 crore was down 9% YoY mainly due to lower realisations in the Cement business and initial investments for building Birla Opus, its paints business.
The board had approved setting up of a 110K TPA capacity of Lyocell, the fastest growing cellulosic fibre, at Harihar, Karnataka. The first phase of 55,000 TPA will be executed by mid-2027 at an investment of ₹1,350 crore.
With this investment, Grasim’s total Lyocell capacity marketed under the ‘Birla Excel’ brand will increase to 1,53,000 TPA, the company said.
Published – February 10, 2025 10:29 pm IST
