Carborundum posts 55% increase in Q1 net

Our Bureau Chennai | Updated on August 03, 2018 Published on August 03, 2018

Carborundum Universal Ltd has reported a 55 per cent increase in profit after tax at ₹65 crore for the quarter ended June 30, 2018, against ₹42 crore in the year-ago period.

Consolidated gross sales for the quarter grew 22 per cent to ₹626 crore (₹512 crore), driven by better performances by all the business segments. At a standalone level, gross sales grew 28 per cent.

Revenue of the abrasive business stood at ₹262 crore (₹218 crore). The standalone standard mass market business, which was impacted by the GST rollout in Q1 FY18, had good growth to report in the latest quarter on a low base.

Electro minerals business revenue grew to ₹239 crore from ₹202 crore. India standalone business delivered good revenue growth on the back of higher volume and price growth. The Russian entity also delivered a better performance.

In the ceramics business, revenue was higher by 32 per cent at ₹145 crore when compared with ₹110 crore, driven by improvement in volumes from a standalone business.

Published on August 03, 2018
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