Companies

Carborundum Universal reports 11 per cent rise in FY20 profit at ₹275 crore

Our Bureau Chennai | Updated on June 06, 2020

Murugappa Group company Carborundum Universal Ltd has reported a 54 per cent rise in its consolidated net profit after tax at ₹94 crore for the quarter ended December 31, 2020 when compared with ₹61 crore in the corresponding period of previous fiscal, helped by lower expenses amid a fall in revenue.

Total expenses were lower at ₹538 crore when compared with ₹611 crore in the year-ago period. Profit from operations before share of profit of equity accounted investees and income tax stood at ₹105 crore (₹92 crore).

Consolidated net sales reported a decline of 16 per cent at ₹586 crore as against ₹696 crore.

For the full-year ended March 31, 2020, its consolidated net profit after tax stood at ₹275 crore when compared with ₹248 crore in the previous fiscal, posting an increase of 11 per cent.

Its consolidated sales for 2019-20 fell 3 per cent to ₹2,569 crore from ₹2,656 crore. At the standalone level, the decrease was at 7 per cent from ₹1,752 crore to ₹1,623 crore.

“Full-year consolidated segmental profitability improved for ceramics business on the back of higher volumes and better product mix. Consolidated sales of ceramics business stood at ₹629 crore (₹604 crore), according to a company statement.

The gross debt-equity ratio for the Company is nil at a standalone level and 0.03 at a consolidated level. Cash and cash equivalents (net of borrowings) at the consolidated level stand at ₹298 crore.

The Board at its meeting held today has recommended that the interim dividend paid to be confirmed as the final dividend for the FY 2019-20.

Published on June 06, 2020

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor