Carborundum Universal reports consolidated Q2 net at Rs 116.16 crore

Abrasives manufacturer Carborundum Universal Ltd (CUMI) has reported a consolidated net profit for the July-September 2024 quarter at Rs 116.16 crore following sales growth in electro minerals, ceramic segments, the company said on Wednesday.

The city-based company, part of the diversified conglomerate Murugappa Group had registered a net profit after tax of Rs 103.88 crore during the corresponding quarter of last financial year.

For the six months period ending September 30, 2024, net profit after tx grew to Rs 231 crore, as compared to Rs 221.64 crore registered a year ago. The consolidated total income during the quarter under review went up to Rs 1,235.45 crore, from Rs 1,165.98 crore recorded during the same quarter of last financial year.

For the half year ending September 30, 2024, the consolidated total income remained flat at Rs 2,440.01 crore, as against Rs 2,400.11 crore registered in the year ago period. In a statement on Wednesday, the company said that the consolidated sales for Q2 were highest ever at Rs 1,209 crore with profit after tax of Rs 116 crore.

"All three segments (abrasives, ceramics and electro minerals division) contributed to the sales growth," the company said. The capital expenditure incurred at consolidated level during the April-September 2024 period stood at Rs 124 crore as compared to Rs 97 crore spent in the same period of last financial year. The debt equity ratio at the consolidated level was 0.03, the company said.