CUMI net rises 12% to ₹116 cr. on overall growth

Carborundum Universal Ltd.’s (CUMI) reported consolidated net profit for the September quarter rose 12% to ₹116 crore from the year-earlier period due to an increase in volume growth of all segments.

Revenue from operations grew by 6.80% to ₹1,224 crore, of which abrasives accounted for ₹543 crore, electro minerals ₹402 crore and ceramics ₹280 crore, while inter-segment revenue was ₹41 crore, the Murugappa Group company said in a statement.

Consolidated revenue of abrasives grew 6.4% due to standalone contributions by its subsidiaries such as Awuko, Rhodius and Volzhsky Abrasive Works (VAW), electro minerals revenue increased 6.5% due to standalone contributions by VAW and FZL along with higher price realisation and higher exports sales. Australia and American subsidiaries aided ceramics sales growth of 5.5%.

The debt equity ratio was 0.03. CUMI incurred capex of ₹124 crore (₹97 crore) for H1.

Published - October 30, 2024 07:02 pm IST