Carborundum Universal’s profit sees 57% hike

Chennai: Carborundum Universal, part of Murugappa Group, announced that the consolidated sales (without excise duty) for the quarter, increased by 22 per cent to Rs 626 crore from Rs 512 crore, driven by better performance from all the business segments. At a standalone level, sales (without excise duty) grew by 28 per cent.

Consolidated segmental profitability for the quarter improved for all the segments on the back of higher volumes, the firm stated. The Company, at a consolidated level, spent Rs.16 cr on capital expenditure.

The firm stated that profit before tax increased from Rs 59 crore to Rs 95 crore while profit after tax and non-controlling interest was Rs 63 crore (corresponding period of previous year Rs 40 cr).