 "Carborundum Universal Q2 profit up 34% to Rs 86.4 cr, sales rise 1%")
Carborundum Universal, a Murugappa Group company, reported a 34 per cent growth in profit during the second quarter ended September 30, 2020 to Rs 86.4 crore, from Rs 64.5 crore.
Consolidated net sales for the quarter were up one per cent to Rs 683 crore from Rs 678 crore of the same quarter last year, driven by steady performance across segments.
Revenue from abrasives for the quarter was flat at Rs 259 crore at both, the consolidated and the standalone levels.
Electro Minerals segment Revenue at a consolidated level rose to Rs 275 crore from Rs 267 crore from the same Quarter of last year. Subsidiaries Volzhsky Abrasives Works, Russia and Foskor Zirconia Limited, South Africa registered good growth.
Ceramics consolidated revenue decreased to Rs 169 crore from Rs 170 crore resulting in a marginal decline of 1%
The capital expenditure incurred during the first half year was Rs.53 crore.
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