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Grasim nets Rs 168.3 million

The Aditya Birla group's Grasim Limited has posted a net profit Rs 168.3 million during the last three months ended December 1998 while sales were at Rs 7.95 billion in the third quarter ended December 1998.

The net profit during the nine months was at Rs 1.09 billion which was lower by 36.6 per as against Rs 1.73 billion of the corresponding period of the previous year, due to higher depreciation charge for the new viscose staple fibre plant at Kharach.

The company reported a net sales turnover of Rs 25.56 billion for the nine moths ended December 31, 1998 against Rs 26.24 billion for the same period of the last year. The prolonged and continued economic downturn has adversely affected all the industries in the commodity market including Grasim.

UNI

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