Carborundum Universal Q2 PAT up 8.89% to Rs 68.31 cr

Carborundum Universal Ltd on Friday said its consolidated profits after tax for the second quarter ending September 30, 2019 clocked a 8.89 per cent rise to Rs 68.31 crore.

The city-based diversified conglomerate Murugappa Group company had recorded consolidated profits after tax at Rs 62.73 crore during same period last fiscal.

For the six-month period, the consolidated net profits after tax however fell by 6.49 per cent to Rs 119.71 crore as against Rs 128.02 crore registered same period last fiscal.

On a consolidated basis, total income for the July-September quarter grew to Rs 690.53 crore from Rs 668.31 crore registered same period last fiscal.

Total income for the six-month period ending September 30, 2019 grew to Rs 1,366.83 crore from Rs 1,313.13 crore registered same period year ago.

In a statement, the company said the consolidated sales for the quarter increased by four per cent to Rs 678 crore from Rs 651 crore in corresponding quarter of last year driven by the better performance in the ceramic segment.

On a standalone basis, the sales remained flat.

The consolidated segmental profitability for the quarter improved for the ceramics business, but abrasives and electro-minerals "degrew," it said.

The company added that it spent Rs 72 crore on capital expenditure during the April-September period.