Grasim posts Rs 644 crore PAT for Q4

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Mumbai, Apr 29 (UNI) Grasim posted strong PAT of Rs 644 crore during its fourth quarter for 2007-08, an increase of 15 per cent against corresponding period during previous fiscal.

Its consolidated Net Revenue touched Rs 4,715 crore, an increase of 15 per cent against corresponding period during last fiscal.

EPS stands at Rs 70 with the Board of Directors allocating Rs 316 crore for dividends including Corporate Tax, indicating a 10 per cent increase against Rs 287 crores for FY 07.

''Though operating profits were down in the Viscose Staple Fibre (VSF) line, due to lower volumes by 10 per cent resulting in huge stocks but were countered by strong performance in the cement business,'' CFO Director D D Rathi.

Speaking to the media, Mr Rathi said that though the Company's VSF business saw a four per cent drop in margins and could remain flat over next two quarters, the market looked bright in mid and long term.

He also stated that capex (capital expenditure) would be Rs 4,700 crore over next two years from the Company's accurals and internal sources. The investment will be in addition to Rs 7,000 crore already invested. The amount would include Rs 5,100 crore for expansion of cement business, including capacity increase of the company's Ready-to-mix (RMC) to nine million tonnes by FY 09.


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