Cumi net dips on sluggish market

Carborundum Universal has reported a 27 per cent drop in net profit for the third quarter of the current year compared with the corresponding quarter previously. Slow market conditions have contributed to the performance, the company said. For the quarter ended December 31, 2014, the Murugappa group company has reported a net profit of ₹7.31 crore (₹10.10 crore) on a total income of ₹ 269.93 crore (₹258.13 crore). It has announced an interim dividend of 75 paise a share of ₹ 1. On the BSE, the company’s shares closed lower at ₹137.95 against the previous close of ₹139.80.