CUMI Reports Stable Q1 Profit Amidst Sectoral Variations

Carborundum Universal Ltd (CUMI), part of Murugappa Group, reported a net profit of Rs 114.84 crore for April-June 2024, a slight decrease from last year's Rs 117.76 crore. The company noted growth in its abrasives segment but declines in ceramics and electro-minerals. Total income also saw a downturn.

Carborundum Universal Ltd (CUMI), a leading abrasives manufacturer within the Murugappa Group, has announced a consolidated net profit of Rs 114.84 crore for the April-June 2024 quarter.

The city-based firm had registered a net profit of Rs 117.76 crore during the same quarter last year. For the year ending March 31, 2024, the consolidated net profit stood at Rs 476.18 crore.

The company's total income for the recent quarter dropped to Rs 1,204.56 crore, compared to Rs 1,234.13 crore from the previous year. Despite a 6.3 percent growth in its abrasives segment, its ceramics and electro-minerals sectors fell by 6 percent and 9 percent respectively.

(With inputs from agencies.)