Carborundum Universal Q1 Net Profit: Rs 114.84 cr

Chennai, Jul 30 (PTI) Abrasives manufacturer Carborundum Universal Ltd (CUMI) has reported a consolidated net profit for April-June 30, 2024 at Rs 114.84 crore, the company said on Tuesday.

The city-based company, part of the diversified conglomerate Murugappa Group, had registered a net profit of Rs 117.76 crore during the corresponding quarter of last year.

For the year ending March 31, 2024, the consolidated net profit was at Rs 476.18 crore.

The consolidated total income during the June-quarter fell to Rs 1,204.56 crore, from Rs 1,234.13 crore registered during the corresponding quarter of last year.

For the year ending March 31, 2024, the consolidated total income was at Rs 4,778.84 crore.

The company said the consolidated abrasives grew at 6.3 per cent during the April-June 2024 quarter, while the ceramics and electro-minerals segment fell by 6 per cent and 9 per cent respectively.

"Profit after tax and non-controlling interest for the quarter was almost flat at Rs 113 crore against Q1 of last year and 16 per cent lower compared to fourth quarter of last financial year," the company said in the statement.

The capital expenditure incurred during the quarter under review was at Rs 63 crore, the statement added.