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

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
You might also like