Financial Daily from THE HINDU group of publications
Friday, Jan 23, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 23, 2004 |
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Corporate Results
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Abrasives Carborundum's net at Rs 5.65 crore Our Bureau
Chennai , Jan. 22 THE Chairman of Carborundum Universal Ltd, Mr M.V. Murugappan relinquished his post at the company's board meeting on Thursday when Mr M.M. Murugappan, the Vice Chairman was elected to the post. According to a press release from the company, Mr Murugappan, who was appointed Carborundum's Managing Director in 1979, took over as Chairman and Managing Director in 1995. Led by him the company grew to a turnover of Rs 300 crore from Rs 25 crore, entered into new areas like industrial ceramics, ceramic fibres and super abrasives, and diversified into power. The company also announced that Mr Partho Datta, Director - Finance of the Murugappa group, has been inducted on the board as a non-whole-time director. Carborundum Universal has reported a net profit of Rs 5.65 crore on net sales of Rs 82.21 crore for the quarter ended December 31, 2003. During the corresponding period in the previous year the company reported a net profit of Rs 4.42 crore on net sales of Rs 71.86 crore.
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