Abrasives and industrial ceramics maker Carborundum Universal Ltd. on Saturday reported a 7.6% jump in standalone net profit ₹61.91 crore for the quarter ended March 31. Total income climbed to ₹601.47 crore from ₹519.98 crore.
For the year ended, standalone net profit grew 38.3% to ₹254.48 crore compared with the previous year, the Murugappa Group company said in a statement. Total income rose to ₹2,257.18 crore as against ₹1,714.65 crore recorded in the previous fiscal.
The company said it incurred capital expenditure of ₹170 crore in FY22 highlighting that the debt-equity ratio at the consolidated level was at 0.09.
Revenue from the abrasives business at a consolidated level grew 29% to ₹1,283 crore for the year .
The company said the abrasives business in India, Russia and the U.S. registered significant growth.
Revenue at the consolidated level in the electro minerals business grew to ₹1,312 crore during the year compared with ₹1,064 crore.
The company said its subsidiary Volzhsky Abrasives Works, Russia registered double-digit growth in rouble terms. It has been a turnaround year for Foskor Zirconia Pty Ltd., South Africa, which too registered double-digit growth.
The ceramics business clocked a 27.2% jump on its net profit to ₹798 crore.
The board of directors recommended a final dividend of ₹2 per share. The company had earlier paid an interim dividend of ₹1.50 per share, aggregating to a total dividend of ₹3.50 per share, the company said in a statement.
