Carborundum Universal’s consolidated gross sales increased by 10 per cent for the quarter ended June 30, 2016, at Rs. 526 crores as against Rs. 476 crores for the same quarter last year. Profit after tax increased by 21 per cent from Rs. 33 crores to Rs. 40 crores for the quarter.
The improvement in sales was due to better performance of abrasives and ceramics businesses as compared to last year.
At a consolidated level, gross sales for the quarter were at Rs. 247 crores, a 15 per cent increase over the corresponding quarter last year. A major portion of the growth came from India. The Russian Abrasives facility also reported higher sales during the quarter.
Profit before interest and tax on a consolidated basis recorded an increase of Rs. 10 crores over last year. Compared to the sequential quarter, profits were Rs. 3 crores higher.