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NT Bureau
Chennai, Feb 1:

        For Carborundum Universal Ltd, part of the $1.6 billion conglomerate - Murugappa group, it has been growth all the way during the third quarter of this fiscal.

        The company registered a sales of Rs 136 crore against Rs 109 crore for the corresponding quarter of the previous year, a growth of 24 per cent. Exports registered a strong growth of 70 per cent from Rs 11.3 crore to Rs 19.3 crore.

        CUMI's consolidated turnover in Q3 was Rs 189 crore while operating profits ( profit before interest, exceptional income and tax) increased by 27 per cent from Rs 17.7 crore to Rs 22.4 crore. Profit before exceptional items increased to Rs 20 crore (from Rs 17 crore), a growth of 18 per cent. Profit before tax for the quarter of Rs 20 crore is lower than last year (Rs 49.5 crore) primarily

        because the last year's Q3 results included an exceptional item of income amounting to Rs 32.39 crore, representing profit on sale of shares. The profits after tax for the current quarter was Rs 12.6 crore (previous year Rs 43.4 crore). CUMI's consolidated profits after tax for Q3 was Rs 17.8 crore.

        All business segments registered strong performances during the quarter. In abrasives, major customer industries— auto, auto ancillaries, bearing, steel, fabrication and construction continued to do well. The order inflow for non-standard products was 44 per cent above that of the corresponding period of last year.

        And ceramics division continued its robust growth trends. Sales registered a 32 per cent growth, from Rs 20 to Rs 26 crore. There was good off take from key user industries— HT insulators, cement, carbon black, glass, coal washeries, power and steel.

        The acquisition of the new plants at Jabalpur was completed in December 2006. The new facility for manufacture of industrial ceramic tiles in Hosur is in its final stages and the plant is expected to be commissioned in Q4.

        In the electrominerals division, sales grew by 18 per cent. The division continued to pursue its strategy of shifting focus to value added products. Exports registered a growth of 90 per cent over corresponding period of last year.