Aditya Birla Group’s flagship company Grasim Industries on Friday reported a consolidated profit after tax (PAT) of ₹ 1,384 crore in the third quarter ended December (Q3 FY21) — clocking a growth of 103 per cent from ₹ 680 crore in Q3 FY19.
Consolidated revenue for the quarter was up 13 per cent to ₹ 20,986 crore from ₹ 18,617 crore in the same period last year while consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) jumped by 52 per cent to ₹ 4,476 crore from ₹ 2,945 crore.
The diversified company said that the government’s far-sightedness in providing timely stimulus in the aftermath of Covid-19 provided support to multiple sectors leading to a broad-based economic recovery.
“The recovery in the demand has been accelerated by greater consumer confidence on the back of launch of vaccination programme across the world,” it said.
The cement subsidiary — UltraTech Cement Ltd — had consolidated revenue at ₹ 12,254 crore, EBITDA of ₹ 3,362 crore and profit after tax of ₹ 1,584 crore for Q3 FY21.
The UltraTech board has approved ₹ 5,477 crore towards capacity expansion of 12.8 million tonnes per annum through a mix of greenfield and brownfield expansion.
The financial services subsidiary Aditya Birla Capital posted 17 per cent hike in consolidated revenue for the quarter at ₹ 5,026 crore. PAT grew by 16 per cent to ₹ 289 crore, the highest ever reported so far.