Carborundum Universal Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
October 27, 2023 at 01:35 pm IST
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Carborundum Universal Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 11,234.2 million compared to INR 11,165.5 million a year ago. Revenue was INR 11,659.8 million compared to INR 11,358.1 million a year ago. Net income was INR 1,018.8 million compared to INR 889.9 million a year ago. Basic earnings per share from continuing operations was INR 5.36 compared to INR 4.69 a year ago. Diluted earnings per share from continuing operations was INR 5.35 compared to INR 4.68 a year ago.
For the six months, sales was INR 23,143.6 million compared to INR 22,454 million a year ago. Revenue was INR 24,001.1 million compared to INR 23,005.1 million a year ago. Net income was INR 2,151.1 million compared to INR 1,677.6 million a year ago. Basic earnings per share from continuing operations was INR 11.32 compared to INR 8.84 a year ago. Diluted earnings per share from continuing operations was INR 11.29 compared to INR 8.82 a year ago.
Carborundum Universal Limited is an India-based solutions provider in abrasives, electrominerals, industrial ceramics, super refractories and energy storage materials. The Company's segments include Abrasives, Ceramics and Electrominerals. The Abrasives segment comprises bonded, coated, processed cloth, polymers, power tools and coolants. The Ceramics segment includes technical ceramics and super refractory solutions to address wear protection, corrosion resistance, electrical resistance, heat protection and ballistic protection. Its ceramics products are used in various industries, such as power generation and distribution, mining and ore processing, ferrous and non-ferrous industries, automotive, battery, glass, paper, food grain handling, petrochemicals, and ceramic tiles. The Electrominerals segment solutions include alumina zirconia, brown fused alumina, ceramic alumina, fine ceramic powders, fused zirconia, silicon carbide, white fused alumina and monocrystalline alumina.