Financial Daily from THE HINDU group of publications
Saturday, Jul 24, 2004
Financial Daily from THE HINDU group of publications Saturday, Jul 24, 2004 |
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Corporate Results
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Abrasives Carborundum Universal net up Our Bureau
CHENNAI: Carborundum Universal Ltd has reported a 76 per cent jump in net profit during the first quarter ending June 30, 2004, as compared to the corresponding period the previous year. It has reported a net profit of Rs 7.30 crore on net sales of Rs 76.03 crore for the quarter ended June 30, 2004. During the corresponding quarter in the previous year the company reported a net profit of Rs 4.15 crore on net sales of Rs 61.76 crore. The total expenditure was Rs 65.32 crore (Rs 52.69 crore) and interest has dropped to Rs 61 lakh (Rs 1.32 crore). It has reported an exceptional income of Rs 1.57 crore (Rs 6 lakh) from sales of shares of Parrys Confectionery Ltd. The company has attributed its performance to a strong demand for its products - abrasives, electrominerals and ceramics - in the domestic and international markets resulting in a 23 per cent growth.
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