• Q3 viscose staple fibre sales volumes up 24%
  • Grasim Industries profit slumped 40%
  • Revenue grew 5% to INR71.2bn

Improved sales volumes of its viscose staple fibre (VSF) failed to offset an overall decline in third-quarter net profit at Indian fibre manufacturer Grasim Industries.

The Aditya Birla subsidiary said sales volumes at its VSF business grew 24% to 97,049 metric tonnes, for the three months to 31 December, led by a better performance in both domestic and export markets.

VSF production increased by 4%, helped by higher capacity at its Harihar plant. 

The division was able to maintain its performance, despite a sharp fall in the international prices, supported by rupee depreciation. 

Overall profit reached INR3.32bn (US$53.1m) during the quarter, down 40% on INR5.49bn in the prior year, due to challenging economic conditions. Revenue, meanwhile, grew 5% year-on-year to INR71.2bn.