Aditya Birla Chemicals today reported 79 percent decline in its net profit at Rs 3.40 crore for the third quarter ended on December 31, due to lower income and higher finance cost. The company had clocked a net profit of Rs 16.35 crore in the year ago period.
Total income from operations during October-December quarter in the current financial year declined to Rs 276.45 crore from Rs 286.87 crore in the year ago period, the comopany said in a BSE filing.
Finance cost rose to Rs 27.26 crore during the third quarter of current financial year from Rs 23.16 crore in the corresponding period last year.
Meanwhile, Grasim Industries, an another Aditya Birla Group firm, today said its Board has approved merger of Aditya Birla Chemicals with the company in line with its vision to unify similar business in one company.
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