Sundram Fasteners net up 18.9%

Sundram Fasteners has announced its financial results for the year and has said its total revenue from operations was at Rs 4,002.34 crore, an increase of 17 per cent.

Domestic sales, net of excise duties were at Rs 2,469.15 crore, against Rs 2,146.76 crore, an increase of 15 per cent, on the back of increase in production of commercial vehicles, the firm said.

The net profit of the company was at Rs 437.12 crore, against Rs 367.47 crore in the previous year, registering an increase of 18.9 per cent.

The export sales were at Rs 1,382.99 crore, against Rs 1,168.14 crore, an increase of 18.4 per cent due to volume growth accompanied by a favourable exchange rate movement, the firm said.

The earnings before interest and depreciation (EBITDA) was at Rs 768.83 crore (Rs 650.36 crore), an increase of 18.2 per cent. The finance cost was at Rs 38.96 crore (Rs 32.56 crore). The competitive sourcing of funds has enabled the company to contain its interest costs, it said.

NT Bureau