Carborundum Universal Q2 net profit grows 55 percent

October 27th, 2010 - 8:20 pm ICT by IANS  

Chennai, Oct 27 (IANS) Abrasives major Carborundum Universal Ltd (CUMI) closed the second quarter of the current fiscal with a consolidated revenue and profit growth of 26 percent and 55 percent respectively.

The Murugappa group company Wednesday said its consolidated sales and net profit grew to Rs.408 crore and Rs.41 crore respectively last quarter as compared to Rs.325 crore and Rs.26 crore earned during the corresponding period of the previous year.

The company expects similar growth trends during the third quarter.

Rationalising the overseas investment arms CUMI transferred its investments in CUMI America and CUMI Middle East FZE to CUMI International based in Cyprus.

For the first half of the current fiscal the consolidated sales and net profit stood at Rs.760 crore and Rs.84.6 crore respectively as against Rs.556.69 crore and Rs.45.67 crore posted during the same period the previous year.

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