30/7/10 – Carborundum Universal posts results for last quarter
30 July 2010
Carborundum Universal (CUMI), part of the Indian Murugappa Group and a manufacturer of abrasives and technical ceramics, has announced their quarterly results from the period ending 30th June 2010.
The Board of Directors have approved the results confirming that consolidated net sales grew by 27% to Rs.3.5 billion from Rs.2.7 billion.
Strong performances were indicated in overseas subsidiaries, namely in Russia and South Africa as well as in India. 55% of the companies consolidated sales come from exports and overseas trade.
Profit before tax was Rs.432 million, an increase of 47% on the previous year’s figure for the same period. During the quarter, the company continued with its strategy to divest non-core assets to fund growth. Resulting Net Profit after tax grew to Rs.25.2 Crores, 31% up from 2009.
Abrasives sales increased by 19% due to an increase in demand in both India and Russia.