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Tuesday, November 1, 2016

Carborundum Universal Q2FY17 Net rises 17%

Carborundum UniversalCarborundum Universal, which is a part of the diversified conglomerate Murugappa Group, has reported a 17.4 per cent rise in second quarter net profit ended 30th September, 2016 at Rs 46.68 crores. The Chennai-based auto-component manufacturer has registered consolidated net profits of Rs 39.73 crores in the year-ago period.
For the six month period ending 30th September, 2016 consolidated net profits rose by 19 per cent, to Rs 86.77 crores from Rs 72.87 crores, registered during the year-ago period. For the financial year ended 31st March, 2016 consolidated net profits were at Rs 143.40 crores.
Total income from operations for the three-month period ended September 30, 2016 rose to Rs 550.84 crores from Rs 512.48 crores registered a year ago. For the April to September period, total income from operations stood at Rs 1,082.96 crores as against Rs 996.70 crores registered during the same period of previous year.
Carborundum Universal Ltd (CUMI) which is a part of Murugappa Group, one of the largest and oldest conglomerates in India. The company is one of the leading manufacturer as well as developer of abrasives, ceramics, refractories, alumium oxide grains, machine tools, polymers, adhesives as well as electro minerals in India. It is the only abrasive manufacturer with the diversification.

Global presence of the company is made through the establishment of number of subsidiaries across India, Russia, South Africa, Australia, China, and Thailand along with Canada.
Carborundum Universal is recommended as one of the top 500 stocks by the research and analysis team of Dynamic Levels based on the strong performance of the share support with good fundamentals.
Carborundum Universal share price is currently trading at Rs 284.85, up by 0.26 per cent. The intraday high and the intraday low of the share so far in the day are Rs 287.60 and Rs 283.00 respectively.

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