Carborundum Universal Ltd. (CUMI) standalone net profit for the third quarter ended December grew 1.3% to ₹67 crore following a rise in input costs.
Revenue from operations grew 22% to ₹602 crore. Total expenditure rose 24% to ₹517 crore, it said in a regulatory filing.
Cost of materials consumed jumped to ₹240 crore from ₹188 crore. The board declared an interim dividend of ₹1.50 per share.
At consolidated level, the capital expenditure incurred during the nine months period stood at ₹118 crore. The debt-equity ratio was 0.0156. Cash and cash equivalents including deposits with tenure exceeding three months net of borrowings were at ₹616 crore, it said in a statement.
Abrasives segment revenue was ₹280 crore (₹253 crore). The standalone business, Russian subsidiary Volzhsky Abrasives Works and subsidiary in America, registered significant growth.
Electro Minerals segment revenue stood at ₹177 crore (₹130 crore).
Ceramics segment revenues were higher by ₹38 crore to ₹178 crore. Standalone ceramics business performed well and registered double-digit growth despite a slowdown in exports market due to COVID third wave. Subsidiaries in Australia and America registered significant growth.
The step down subsidiary Foskor Zirconia Pty Ltd., South Africa (FZL) earned a profit of ₹8.22 crore. Out of this, ₹4.19 crore has been considered in the group consolidated financials, being share of the parent. The FZL board is monitoring the performance and will continue to take suitable measures.
Shares of the company gained 0.66% to close at ₹872.60 on the BSE Thursday.
