Industry

CUMI profit leaps to ₹63 cr. as sales rise

Carborundum Universal Ltd.’s (CUMI) standalone net profit for Q1 FY22 jumped sixfold to ₹63 crore on better volumes.

Income from operations almost doubled to ₹465 crore following a rise in sales volume from abrasives, ceramics and electro minerals, it said in a filing.

Segment wise, income from abrasives more than doubled to ₹224 crore, ceramics rose from ₹79 crore to ₹141 crore and electrominerals to ₹134 crore (₹65 crore).

The firm’s step-down subsidiary Foskor Zirconia Pty. Ltd., South Africa (FZL) had incurred a loss of ₹4.11 crore of which ₹2.10 crore had been considered in the group’s consolidated financials, being the share of the parent.


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Printable version | Sep 27, 2021 10:53:25 AM | https://www.thehindu.com/business/Industry/cumi-profit-leaps-to-63-cr-as-sales-rise/article35690450.ece

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