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Murugappa Group company Carborundum Universal (Cumi) has posted a 10 per cent rise in consolidated net profit for the first quarter of the financial year 2022-23. Profit went up to Rs 85.99 crore compared to Rs 78.01 crore during the April-June quarter of 2021-22.
Consolidated revenue from operations of abrasives and industrial ceramics increased by 60 per cent from Rs 711.59 crore to Rs 1,139.83 crore.
“Profit for the quarter was mainly impacted by exchange loss in the Russian subsidiary due to strengthening of the ruble,” the company said in a statement.
The capital expenditure incurred during the quarter was
