Grasim Industries, an Aditya Birla group company, posted a net profit of Rs 654 crore in the quarter ended March 2010, up 15 per cent from Rs 569 crore in the same quarter of the previous year. The cement and viscose staple fibre (VSF) segments were the major drivers of growth.
"While the cement business has performed well supported by higher output from the new capacities including its captive power plants, the VSF business has recovered from the extreme downturn of the last year leading to an impressive performance," said Adesh Gupta, chief financial officer, Grasim.
New capacities and a strong demand led to an increase of 9 per cent in cement volumes in the quarter. In the VSF segment, production was up by 35 per cent while sales volumes were up by 31 per cent in the quarter against the period a year-ago.
In the chemical segment, caustic volumes grew by 15 per cent on higher demand from the end user industry.
Grasim is planning to expand cement capacity at its existing plants by 10 million tonnes.