Chennai: Sundram Fasteners Limited announced that it has posted a net profit of Rs 103.06 crores for the quarter ended 31 December 2019, despite a economic slow-down in the auto industry.
According to a press release, the company has posted a healthy earnings before interest, depreciation and taxes (EBITDA) of 18 per cent due to the operational efficiencies and cost control measures. Revenue from the operations of Sundram Fasteners Limited for the quarter ended 31 December 2019 was at Rs 692.80 crores as against Rs 1,018.84 crores during the same period in the previous year.
Due to the drop in industry volumes, the domestic sales was also lower at Rs 446.05 crores as against Rs 608.48 crores during the same period in the previous year. The export sales for the quarter ended was at Rs 224.18 crores as against Rs 370.67 crores during the same period in the previous year. The EBITDA for the quarter ended 31 December 2019 was at Rs 124.54 crores as against Rs 195.15 crores during the same period in the previous year, the release added.