Sundram Fasteners posts July-Sep23 standalone profit at Rs 117.93 crore
The standalone total income during the quarter under review grew to Rs 1,238.97 crore, from Rs 1,225.85 crore registered during the corresponding period of last year.
Sundram Fasteners Ltd, engaged in auto components manufacturing, has reported a standalone profit for the July-September 2023 quarter at Rs 117.93 crore, the company said. The standalone profit during the corresponding quarter of last financial year was at Rs 111.75 crore, the Chennai-headquartered company said. For the six months period ended September 30, 2023 the standalone profit was at Rs 230.46 crore, as against Rs 241.86 crore registered in the same period of last year, the company said.
The standalone total income during the quarter under review grew to Rs 1,238.97 crore, from Rs 1,225.85 crore registered during the corresponding period of last year. For the half year ended September 30, 2023 the standalone total income stood at Rs 2,456.58 crore as against Rs 2,472.07 crore registered a year ago. In a statement on Sunday, the company said its domestic sales for the quarter ended September 30, 2023 were at Rs 861.78 crore as against Rs 802.45 crore registered during the same period of last year. Exports sales during the quarter were at Rs 337.01 crore as against Rs 377.78 crore registered in the same period of last year.
The Board which met here recently, declared an interim dividend of Rs 2.68 per share (268 per cent) for the financial year 2023-24. The company said it incurred Rs 300 crore as Capital Expenditure for FY 2023-24. "In keeping with the large EV orders secured by the company, capital allocation and development of products are in accordance with the timelines planned by the company," the statement said.
The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) for the quarter ended September 30, 2023 was at Rs 205.27 crore, as against Rs 193.22 crore during the same period of the last year. The company has improved its EBITDA margin at 16.5 per cent as against 15.8 per cent during the same period in the previous year.
"This has been due to the stringent cost control measures and improvement in operational efficiency," the statement added.
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