Carborundum Universal net profit flat at Rs 40 crore

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Chennai, July 31 (IANS) City-based Carborundum Universal Ltd, a major in abrasives, ceramics and other products, said on Monday that it closed the first quarter of the current fiscal with a flat net profit on higher sales.

In a statement here, the company said its consolidated gross sales went up by three per cent to Rs 540 crore for the quarter ended June 30, 2017 as against Rs 526 crore posted for the quarter ended June 30, 2016.

On a consolidated basis, profit after tax and non-controlling interest was flat at Rs 40 crore, the company said.

At a consolidated level, it spent Rs 35 crore on capital expenditure, the statement said.

–IANS

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