CUMI Q2 net rises 25% on higher sales

Murugappa group firm Carborundum Universal Ltd. (CUMI) standalone net profit for the second quarter ended September rose 25% to almost ₹63 crore on improved sales volume.

Income from operations rose 30% to ₹551 crore. Revenues from abrasives, ceramics and electro-minerals stood at ₹268 crore, ₹172 crore and ₹142 crore respectively, CUMI said.

CUMI’s arm Foskor Zirconia (Pty) Ltd., South Africa, had incurred a ₹3.70 crore loss for the six-month period ended September, of which ₹1.89 crore had been considered in the group’s consolidated financials, being parent’s share.

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