Carborundum Universal Registers Good Sales for Latest Quarter
Carborundum Universal has announced a net profit of Rs 66 crore for the quarter ending September 30, 2011. This represents an increase of some 60 per cent over Rs 41 crore posted during the same quarter last year. Turnover rose by 47 per cent to Rs 105 crore during the period under consideration, from Rs 72 crore in 2010.
In its press release the company said that growth was driven by the performance of both the domestic and overseas operations. Abrasives business grew by 15 per cent. The electrominerals and ceramics business segments recorded a growth rates in excess of 25 per cent.
“While the operations in America, West Asia and Canada continued to be subdued, off-take from user industries in India and Russia continued to be encouraging,” says the company. It adds that the company’s Chinese subsidiary registered good growth albeit from a low base. Sterling Abrasives, VAW’s Abrasive division and Wendt (India) Ltd in Indian abrasive segment, registered higher growth.