Carborundum Universal standalone net rises over 15 pc to Rs 72.84 crore in April-June


PTI | Chennai | Updated: 02-08-2022 15:54 IST | Created: 02-08-2022 15:54 IST
Carborundum Universal standalone net rises over 15 pc to Rs 72.84 crore in April-June
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Carborundum Universal Ltd, part of the diversified conglomerate Murugappa Group, on Tuesday reported over 15 per cent rise in its standalone net profit at Rs 72.84 crore in the April-june quarter.

The city-based abrasive manufacturer had reported a standalone net profit of Rs 63.05 crore during the corresponding quarter previous year.

For the financial year ending on March 31, 2022, the standalone net profit was at Rs 254.48 crore.

In a statement, the company said the standalone total income rose to Rs 619.17 crore in the April-June quarter of the current financial year from Rs 485.14 crore registered in the year-ago period.

For the year ending on March 31, 2022, the standalone total income stood at Rs 2,257.18 crore.

The company said the revenue from abrasives business rose to Rs 513 crore during the quarter under review as compared to Rs 273 crore recorded in the same period last year.

''The newly-acquired subsidiaries -- Rhodius and Awuko -- added additional sales to the top line, besides the growth from standalone and Indian subsidiaries,'' it said.

The electro-minerals division reported revenues of Rs 406 crore during the quarter ending June 30, 2022 as compared to Rs 288 crore registered in the April-June 2021 period.

The company's subsidiaries -- Volzhsky Abrasives Works, Russia and Foskor Zirconia Ltd, South Africa -- registered significant growth during the quarter, it said.

On the ceramics business, the company said the sales increased to Rs 243 crore from Rs 173 crore registered in the same period last year. Subsidiaries in Australia and in the United States also registered significant growth, it said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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