[ad_1]
The board declared a final dividend of ₹2 per share. Photo: cumi-murugappa.com
Abrasives and industrial ceramics maker Carborundum Universal Ltd. (CUMI) reported consolidated net profit for the quarter ended March more than doubled from the year- earlier-period to ₹149 crore as all its business segments performed well.
Revenue from operations rose 38% ₹1,200 crore, of which abrasives accounted for ₹525 crore, ceramics ₹265 crore and electro minerals ₹405 crore respectively, Murugappa group firm said in a regulatory filing.
The financials included a gain of ₹25 crore representing reversal of liability recognised towards fair value changes of a financial instrument availed by a stepdown subsidiary, consequent to settlement of its bank borrowings.
The board declared a final dividend of ₹2 per share.
The company incurred capex of ₹294 crore. Cash and cash equivalents including deposits with tenure exceeding three months net of borrowings stood at ₹166 crore.
[ad_2]
Source link