Carborundum Universal net profit grows 25.5%

Murugappa Group firm Carborundum Universal Ltd has posted a growth of 25.5% in net profit at Rs 36.24 crore during the quarter ended June 30, 2015, as compared to Rs 28.87 crore during the same quarter of previous fiscal year.

The total income from operations stood at Rs 495.79 crore during the quarter, as against Rs 521.9 crore during the same quarter of previous fiscal year, a drop of 5%.

During the quarter, the sales of Thukela Refractories was nil as the business is being re-located and there was also adverse movement in Rouble currency, said the company. the profitability of Electro minerals and Abrasives businesses improved both on a sequential and quarter on quarter basis.