Carborundum Universal registers 23 pc growth

Chennai, Oct 28: The sales of Murugappa Group's Carborundum Universal grew to Rs 130 crore from Rs 106 crore for the quarter ending September, registering a 23 per cent growth over the corresponding quarter of the previous year.

Exports registered a strong growth of 46 per cent, from Rs 12 crore to Rs 17.5 crore and the Profit Before Tax (PBT) grew from Rs 20.2 crore to Rs 23.2 crore, marking a growth of 15 per cent.

The PBT for the 2nd quarter of last year included a one time gain amounting to Rs 1.93 crore from sale of certain surplus assets.

Reckoning this, the PBT for the second quarter of the current year constitutes a growth of 27 per cent over the corresponding period of last year, a company release here said.

It said the new Coated Abrasives facility at Sriperumbudur near Chennai had commenced operations in the last week of September and a bonded abrasives facility at Uttranchal at a cost of Rs 20 crore is being set up.

The land acquisition for the project had been completed and the plant was expected to be operational in the first quarter of the next financial year, the release added.

UNI