Companies

Carborundum Universal Q1 net drops 22% to ₹51 crore

Our Bureau Chennai | Updated on July 31, 2019 Published on July 31, 2019

 

City-based Carborundum Universal Ltd reported 22 per cent drop in consolidated net profit to ₹51 crore for the first quarter ended June 30, 2019, against ₹65 crore in the same quarter last year. Consolidated segmental profitability was impacted by lower margins across segments and lower volumes in abrasives.

Revenue increased by 6 per cent to ₹664 crore (₹626 crore) driven by growth in the electro minerals and ceramics segments. At a standalone level, sales grew by 3 per cent.

The company, at a consolidated level, spent ₹38 crore on capital expenditure. The debt equity ratio was 0.06. Cash and cash equivalents net of borrowings was at ₹114 crore, says a company press release.

The company’s board has recommended the appointment of Soundara Kumar, as an independent woman director.

Published on July 31, 2019
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