Cumi today declared its unaudited results for the first quarter ended 30 June, 2008 said with a dip in net profit by 2 per cent to Rs 11.15 crore against Rs 11.42 crore reported for the comparable quarter of the previous year.
Cumi is engaged in the manufacture of abrasives, ceramics and electrominerals, with ceramics contributing more than 50 per cent of its net sales and half of its net profit.
While net sales during the quarter rose by 23 per cent to Rs 157.01 crore, most heads of direct expenditures witnessed increase in the range of 20-28 per cent.
Interest cost rose by 54 per cent to Rs 4.78 crore.
For the full year ended March 31, 2008, the company had reported net sales of Rs 586.86 crore and a net profit of Rs 97.17 crore.
