Grasim Industries Ltd, an Aditya Birla group flagship company, has posted a 68 per cent rise in its net profit at Rs 219.2 crore (Rs 2.19 billion) for the first quarter ended June 30, 2004 as against Rs 130.5 crore (Rs 1.30 billion) in the corresponding quarter last fiscal.
The net turnover for quarter rose by 30.4 per cent to Rs 1,517.1 crore (Rs 15.17 billion) as against Rs 1,163.4 crore (Rs 11.63 billion) in April-June 2004, the company said in a release on Wednesday.
The revenues from fibre and pulp business in Q1 stood at Rs 495.42 crore (Rs 4.95 billion) as against Rs 379.43 crore (Rs 3.79 billion) in the year-ago period, it added.
The cement business chipped in Rs 682.33 crore (Rs 6.82 billion) during the reporting quarter as against Rs 573.33 crore (Rs 5.73 billion) the previous fiscal.
The sponge iron division's revenues almost doubled to Rs 249.95 crore (Rs 2.49 billion) as against Rs 126.42 crore (Rs 1.26 billion), it added.