Coal news and updates

Grasim Ind Q4 net profit down 17%

May 5: Grasim Industries Limited, an Aditya Birla Group company, on May 2, reported a 16.92% drop in its net profit during the January-March quarter (fourth quarter) of 2013-14 to Rs 679.27 crore compared to Rs 817.64 crore reported in the final quarter of 2012-13, mainly on account of higher fuel and freight charges, despite an increase in income from operations and increased sales volume.

The company's net sales during the quarter, however, increased by 9.16% to Rs 8,245.90 crore from Rs 7,553.87 crore in the same quarter a year ago. "Despite the prevailing slowdown during the year, volumes have increased in all the businesses, driven by the commissioning of new capacities," said a company statement.

For 2013-14, net profit of the company too dropped by 23.40% to Rs 2,071.54 crore compared to 2,704.39 crore reported in the same period last year.

"The demand growth of cement should gradually recover to 8% on improvement in the economic environment." The company statement added.

The following table gives quarter-on-quarter consolidated performance of Grasim Industries Limited in 2014 and 2013 (in Rs crore):