Carborundum Universal posts Rs.52 crore net profit

August 5th, 2011 - 7:44 pm ICT by IANS  

Chennai, Aug 5 (IANS) Abrasive major Carborundum Universal Ltd (Cumi) closed the first quarter of the current fiscal with a net profit of Rs.52 crore on a revenue of Rs.465 crore, up from Rs.43 crore and Rs.352 crore, respectively, logged during the like period of 2010-11.

The company’s board of directors Friday approved a proposal to sub-divide the equity shares of Rs.2 each to Re.1 each.

The proposal is subject to the approval of the company shareholders.

According to the company, the order intake for all its divisions - abrasives, electro minerals and ceramics - is strong.

The company however said there are indications of the impending slow down in India as well as in other parts of the world.

Greater clarity will emerge as the year progresses, the company said.

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