Grasim Industries, a textiles manufacturer in India, has announced its financial results for the second quarter (Q2) fiscal 2021. Revenues remained flat at ₹18,600.72 crore compared to revenues from the same period last fiscal. Company’s net profit during the reported quarter ended on September 30, increased to ₹1,521.40 crore (Q2 FY20: ₹1,472.77 crore).
Grasim Industries, a textiles manufacturer in India, has announced its financial results for the second quarter (Q2) fiscal 2021. Revenues remained flat at ₹18,600.72 crore compared to revenues from the same period last fiscal. Company's net profit during the reported quarter ended on September 30, increased to ₹1,521.40 crore (Q2 FY20: ₹1,472.77 crore).#
During the quarter, sales of Viscose segment slipped to ₹1,678.54 crore (₹2,431.04 crore). Whereas, chemicals segment revenue were down to ₹1,125.88 crore (₹1,346.96 crore).
Grasim Industries, a textiles manufacturer in India, has announced its financial results for the second quarter (Q2) fiscal 2021. Revenues remained flat at ₹18,600.72 crore compared to revenues from the same period last fiscal. Company's net profit during the reported quarter ended on September 30, increased to ₹1,521.40 crore (Q2 FY20: ₹1,472.77 crore).#
In its release, the company stated that in China, VSF inventory at VSF plants declined significantly from 45 days (Apr-20) to 16 days (Sep-20). China Yarn inventory with spinners also declined from 39 days (Apr-20) to 12 days (Sep-20) on back of solid Chinese demand. VSF export demand remained buoyant on back of demand from US and European markets.
Grasim Industries, a textiles manufacturer in India, has announced its financial results for the second quarter (Q2) fiscal 2021. Revenues remained flat at ₹18,600.72 crore compared to revenues from the same period last fiscal. Company's net profit during the reported quarter ended on September 30, increased to ₹1,521.40 crore (Q2 FY20: ₹1,472.77 crore).#
Demand pick from textile, paper segment and other segment led to sequential improvement in Grasim Industries domestic caustic soda sales.
Fibre2Fashion News Desk (JL)
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