Carborundum Universal (CUMI) on Thursday posted a 28 per cent growth in its consolidated net profit for the third quarter to ₹111 crore. The Murugappa Group company reported a net profit of ₹87 crore during the corresponding quarter in the previous fiscal year. The company’s net profit during the September quarter of the current fiscal stood at ₹103 crore.
Consolidated revenue from operations jumped 22 per cent to ₹899 crore during the October-December quarter (from ₹734 crore in the previous fiscal). Abrasives segment revenue, at a consolidated level, stood at ₹341 crore (₹303 crore) during Q3 FY22 while the electro-minerals segment reported a revenue of ₹361 crore (₹290 crore). Ceramics segment revenues rose to ₹213 crore (₹160 crore).
On a standalone basis, Carborundum Universal’s net profit increased marginally to ₹66.57 crore (₹65.74 crore) while standalone revenue from operations rose to ₹601.84 crore (₹494.44 crore).
“Profitability at standalone level was impacted due to increasing input costs,” Carborundum Universal said in its earnings press release.
The company said it incurred a capital expenditure of ₹118 crore at the consolidated level during the nine months ended December 2021.
The board of directors of Carborundum Universal declared an interim dividend of ₹1.50 per share.