Carborundum Universal records Q3 consolidated net at Rs 61.36

Murugappa Group company Carborundum Universal Ltd on Thursday recorded consolidated net profits for the October-December 2019 quarter at Rs 61.36 crore.

The city-based company had registered Rs 58.58 crore during the corresponding quarter of previous year.

For the nine month period ending December 2019, consolidated net profits were at Rs 181.07 crore as against Rs 186.60 crore registered a year ago.

Total income for the October-December 2019 quarter slipped to Rs 653.75 crore from Rs 699.50 crore.

For the nine month period ending December 2019, consolidated total income was at Rs 2,020.58 crore as against Rs 2,012.63 crore.

In a statement, the company said the consolidated sales decreased during the quarter ending December due to lower volumes from abrasives and electro-minerals segment.

Consolidated segmental profitability for the quarter improved for ceramics businesses, but de-grew for abrasives and electro-minerals.

The company, at a consolidated level, spent Rs 107 crore on capital expenditure during nine months period ending December 31, 2019.

Segment revenue on abrasives business for the quarter ending December 2019 at a consolidated level was at Rs 263 crore as compared to Rs 259 crore.

On electro-minerals business, the company said revenues were lower at Rs 244 crore as against Rs 264 crore recorded during corresponding quarter of previous year.

Revenues from ceramics business increased to Rs 152 crore from Rs 149 crore resulting in a growth of two per cent on the back of better performances in company subsidiaries CUMI America and CUMI Australia.