Shares of Carborundum Universal Ltd. fell as much as 3% on Thursday, August 7, after the company’s results, that were lower on a year-on-year basis, for the April-June period.The company’s net profit for the quarter declined by 45% on a year-on-year basis to ₹62 crore, nearly halving from the ₹113 crore figure during the same quarter last year.
Revenue for the quarter increased by 2% from last year to ₹1,219 crore from ₹1,197.5 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter declined by 37% on a year-on-year basis to ₹121.5 crore, while margins narrowed by six percentage points to 10% from 16% last year.Carborundum’s Ceramics business grew by 11.1% from last year to ₹300 crore on a consolidated basis.
The company’s Electro Minerals business grew by 6.3% on a year-on-year basis to ₹405 crore, while the abrasives business declined 8% from last year to ₹508 crore on a consolidated basis.
Shares of Carborundum Universal are trading 3% lower after the earnings announcement at ₹859.85. The stock is down 13% in the last one month.
