Dollar, Grasim Industries report increase in profit in first quarter
India-based hosiery manufacturer Dollar Industries and Indian textile and garment major Grasim Industries, the flagship of Aditya Birla Group, have announced financial results for the first quarter of this fiscal.
Operating revenue for Dollar Industries increased from
Rs. 235.07 crore to Rs. 243.65 crore in the reporting quarter while profit before tax increased 17 per cent to Rs. 22.38 crore as compared to Rs. 18.39 crore in the same quarter last year. The consolidated profit after tax also noted 10.31 per cent increase to Rs. 13.80 crore during the reporting quarter, as compared to Rs. 12.51 crore during the corresponding period last year. The Kolkata based brand, which is focusing on product expansion, offers its products under names like Missy, Bigboss, Champion, and Ultra Thermals. Force NXT and Force Go Wear are premium brands offered by the company. The company has its manufacturing units in Kolkata, Tirupur, Delhi and Ludhiana.
On the other hand, Grasim Industries noted 13 per cent increase in its consolidated net profit to Rs. 1,400 crore in the reporting quarter ended June 30 while net profit for Grasim stood at Rs. 1,248 crore in the reporting quarter. With 71 per cent increase, its total revenue reached Rs. 17,090 crore in the reporting quarter as compared to Rs. 11,222 crore in the same period year ago. Viscose – Pulp, Viscose Staple Fibre, and Filament Yam segment also noted boom in revenue to Rs. 2,480 crore from Rs. 1,998 crore in the same period last year. Highest ever quarterly production and sales volume of 134KT and 132KT respectively were reported for its VSF business in the reporting quarter. The Grasim Industries has planned to expand its VSF business by inking partnership with the textile value chain.