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Carborundum Universal Ltd, part of the Murugappa Group, has reported a drop in its consolidated net profit at ₹94 crore for the quarter ended September 30, 2022, when compared with ₹103 crore in the year-ago quarter due to input cost inflation.
Consolidated sales for the quarter grew by 34 percent to ₹1,117 crore from ₹834 crore in the same period of last year, driven by strong performance in electrominerals and ceramics segments along with additional sales of ₹141 crore from newly acquired subsidiaries, according to a statement.
The capital expenditure incurred during the first half of the year was ₹177 crore at the consolidated level. The debt-equity ratio was 0.14. The borrowings (net of cash) were at ₹78 crore.
On a standalone basis, the company’s net profit stood at ₹71.75 crore for the quarter ended September 30, 2022, as compared to ₹62.95 crore in Q2 of the last fiscal. Sales grew by 11 percent to ₹610 crore from ₹551 crore.
The Board approved the re-appointment of N Ananthaseshan as the Managing Director of the Company from November 23, 2022, to December 31, 2024.
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