Grasim Industries reported a 76% growth in its December quarter net profit to ₹958 crore.
The rise in profit was reported on 22% growth in revenue to ₹18,419 crore and 11% growth in EBITDA to ₹2,958 crore.
Revenue from chemical business and UltraTech Cement rose 19% each to ₹1,559 crore and ₹9,390 crore respectively while revenue from viscose business jumped 20% to ₹2,617 crore.
The viscose, chemical business and UltraTech contributed to EBITDA of ₹477 crore, ₹441 crore and ₹1,548 crore respectively.
“The total capex plan of ₹7,627 crore at a standalone level is under execution for raising capacities in both the VSF and chemical businesses. This capital expenditure will be incurred over FY19-FY21.It will be majorly funded by internal accruals. The cash profit generated in 9MFY19 is over ₹2,700 crore,” said a company statement.
“Grasim results is ahead of expectations. The outlook for the VSF, chemical and cement business remains positive,” said Paras Bothra, president, equities at Ashika Stock Broking.
Grasim Industries shares on BSE closed up 2.9% at ₹753.2 in a flat Mumbai market on Thursday.