Carborundum posts flat Q1 net at ₹ 40 cr

Carborundum Universal Ltd has reported a decline in its profit after tax at ₹21 crore for the quarter ended June 30, 2017, against ₹27 crore in the same period last year. Revenues were lower at ₹353 crore against ₹360 crore in Q1 of last fiscal. On a consolidated basis, it has reported a flat PAT at ₹40 crore for the quarter ended June 30, 2017. Consolidated gross sales for the quarter grew by three per cent to ₹540 crore from ₹526 crore, driven by performance from electro minerals and ceramics segments, according to a statement.