Business Daily from THE HINDU group of publications
Monday, Jan 29, 2007
ePaper
Business Daily from THE HINDU group of publications Monday, Jan 29, 2007 ePaper |
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Corporate Results
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Abrasives Carborundum Universal net at Rs 12.61 cr Our Bureau
Carborundum Universal Ltd (CUMI) has reported a net profit of Rs 12.61 crore on net sales of Rs 135.62 crore for the quarter ended December 31, 2006. During the corresponding period in the previous year the company reported a net profit of Rs 43.42 crore on net sales of Rs 109.45 crore. According to a press release from the Murugappa Group company, the drop in profits over the corresponding period in the previous year is because last year's result includes an exceptional item of income of Rs 32.39 crore, representing profit on sale of shares. The release said that all business segments registered strong performance. Sales grew by 24 per cent and exports have registered a growth of 70 per cent to Rs 19.3 crore from Rs 11.3 crore. The new coated abrasives plant at Sriperumbudur has started commercial production in December 2006. The construction of the new bonded abrasives facility in Uttaranchal is progressing according to plan. The acquisition of the ceramics plants at Jabalpur was completed in December 2006. The new facility for making industrial ceramic tiles at Hosur is in the final stages and is to be commissioned in the next quarter.
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