CUMI Sees Record Q2 Profit Driven by Electro Minerals Surge

Carborundum Universal Ltd (CUMI) reported a consolidated net profit of Rs 116.16 crore for July-September 2024, with significant sales growth in electro minerals and ceramics. The company's income for the quarter rose to Rs 1,235.45 crore. Capital expenditure reached Rs 124 crore, up from Rs 97 crore last year.

Carborundum Universal Ltd (CUMI), an abrasives manufacturer, has reported impressive financial results for the July-September 2024 quarter, with a consolidated net profit of Rs 116.16 crore. This growth is attributed to strong performance in their electro minerals and ceramics segments.

The company's net profit for this quarter marks an increase from the Rs 103.88 crore recorded in the same period last fiscal year. Over the first half of the fiscal year, the net profit after tax rose to Rs 231 crore compared to Rs 221.64 crore the previous year.

The company's consolidated total income for the reviewed quarter increased to Rs 1,235.45 crore from Rs 1,165.98 crore last year. With capital expenditure climbing to Rs 124 crore, the financial health shows robust growth in key segments.

(With inputs from agencies.)