Carborundum Universal Q3 Net Up 41% at Rs 33 Crore

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Chennai: Murugappa Group company Carborundum Universal today reported a 41.3 per cent rise in consolidated net profit at Rs 33.32 crore for the third quarter ended December 31.

The Chennai-based company had recorded a consolidated net profit at Rs 23.57 crore during the same period of previous fiscal, Carborundum Universal said in a statement.

Consolidated total income from operations for the quarter under review rose to Rs 532.48 crore as against Rs 503.23 crore registered during the same period last fiscal.

For the nine-month period ending December 31, 2015, its consolidated net profit surged to Rs 110.93 crore from Rs 67.72 crore registered during the year-ago period.

For the April-December period, consolidated total income from operations remained flat at Rs 1,549.20 crore as against Rs 1,573.08 crore registered during the corresponding period last fiscal.

The company said the sales in the electro-minerals division registered a growth for both sequential and quarter-on-quarter basis while ceramics division registered de-growth during the corresponding quarter of previous year.

The board at its meeting held today recommended an interim dividend of Re 1 per share (100 per cent on face value of Re 1) to the shareholders, the company said in a separate filing.