Carborundum Universal Q1 net down 25% at Rs 28.78 crore

CHENNAI: Carborundum Universal ( CUMI), part of the diversified conglomerate Murugappa Group, has reported 25 per cent decline in consolidated net profits at Rs 28.78 crore for the first quarter ending June 30, 2013.

The city-headquartered company had clocked Rs 38.42 crore in the first quarter of the previous financial year.

The consolidated total income from operations for the first quarter ending June 30, 2013 almost remained flat at Rs 507.72 crore as against Rs 503.08 crore registered during the same period of previous year.

The company in a BSE filing said the consolidated net profits for the financial year ending March 31, 2013 stood at Rs 89.77 crore.

The consolidated total income for the financial year ending March 31, 2013 stood at Rs 1,971.40 crore.

Shares of the company were trading at Rs 106.50 apiece down by 1.80 per cent over previous close in afternoon BSE.