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Murugappa Group firm, Carborundum Universal (CUMI) on Monday posted a 10 per cent growth in its consolidated net profit for the first quarter at ₹85.99 crore. The abrasives and industrial ceramics maker posted a net profit of ₹78.01 crore for the same quarter in the previous fiscal.
“The profit for the quarter was mainly impacted by exchange loss in the Russian Subsidiary due to strengthening of Rouble,” the company said in a press release.
Consolidated revenue from operations grew over 60 per cent year-on-year to ₹1,139.83 crore. (₹711.59 crore) for the same quarter in the previous fiscal. The company said the consolidated sales was driven by steady performance across business segments and additional sales of ₹181 crore from newly acquired subsidiaries.
Standalone net profit for the April-June quarter grew by 16 per cent to ₹72.84 crore (₹63.05 crore).
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