Grasim net up 184

Despite higher tax provision, Grasim Industries, the flag ship of the Aditya Birla group, has witnessed a surge in bottom line for the quarter ended December 2006 following Increased capacity utilisation, strengthening of operational efficiencies and enriched product mix. The company8217;s consolidated revenues soared by 46 per cent at Rs 3,688 crore Rs 2,520 crore.

Notwithstanding a substantially higher provision for tax expenses, which was up by 221 per cent at Rs 308 crore Rs 96 crore, the net Profit rose from Rs195 crore to Rs 555 crore, an increase of 184 per cent. The realisations in the cement and viscose staple fibre businesses have improved significantly, it said.