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CUMI consolidated net up 22% in Q3

Chennai | Updated on February 15, 2018

Murugappa Group firm Carborundum Universal Ltd has reported 22 per cent rise in its consolidated net profit after tax at ₹56 crore for the quarter ended December 31, 2017, when compared with ₹46 crore in the corresponding period of the previous fiscal.

Consolidated net sales (excluding excise duty) grew by 15 per cent to ₹600 crore (₹520 crore).

Segment-wise

“The gain in sales and profit were due to better performance from abrasives, ceramics and electro mineral businesses,” according to a statement. In abrasives, consolidated net sales grew 15 per cent to ₹270 crore.

Higher sales improved the margins.

Net sales of electro minerals business stood at ₹228 crore (₹195 crore). Revenues of ceramics business were ₹122 crore, up from ₹103 crore in the year-ago quarter

Standalone basis

On a standalone basis, net profit after tax grew to ₹38 crore from ₹24 crore in Q3 of the previous fiscal.

Revenues stood at ₹411 crore against ₹361 crore.

The board has recommended an interim dividend of ₹1 per share (100 per cent on face value of ₹1).

Published on February 15, 2018

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