Grasim Q4 consolidated net profit jumps 37%

 Grasim Industries has posted a 37.38% increase in consolidated net profit for the fourth quarter ended March 31, 2016 at Rs 696.09 crore compared with Rs 506.68 crore for the quarter ended March 31, 2015.

Total income for the company grew 12.66% to Rs 10,058.03 crore for the quarter ended March 31, 2016, whereas the same was at Rs 8,927.57 crore for the quarter ended March 31, 2015.

During the year, under a court approved scheme of amalgamation, Aditya Birla Chemicals (India) (ABCIL), was amalgamated with the company with effect from the appointed date of April 01, 2015.

In terms of the Scheme, the company issued 14.62 lakh equity shares to the shareholders of the erstwhile ABCIL in the ratio of one share of Rs 10 each fully paid up against 16 shares of Rs 10 each fully paid up of ABCIL held by them, thereby increasing equity share capital of the company by Rs 1.46 crore. In view of amalgamation of ABCIL with the company from April 01, 2015, the results for the quarter and current year ended March 31, 2016, are not strictly comparable with corresponding periods of the previous year, the company said.

Enhanced volumes

As far as the cement arm Ultratech Cement is concerned, revenue for the quarter was Rs 6,920 crore compared with Rs 6,595 crore in Q4 last year. EBITDA was up by 3% at Rs 1,478 crore helped by enhanced volumes and lower fuel prices. Net profit was Rs 723 crore compared with Rs 657 crore in the corresponding quarter.

The board of directors of the company recommended a dividend of Rs 22.5 per share as against Rs 18 per share in the previous year. The total outflow on account of the dividend would be Rs 221 crore (inclusive of the corporate tax on dividend).

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