CUMI posts 83% drop in profits as global business suffers
Published: Tuesday, 12 February 2013
South African zircon problems and weak demand for refractories cause slump
Profits for Indian abrasives and refractories manufacturer Carborundum Universal Ltd (CUMI) fell by 83% to Indian rupee (Rs) 80m ($1.5m*) in the three months to 31 December 2012, the company has reported.
The figures were down from profits of Rs 470m ($8.7m) posted by the company for the corresponding...