Sundram Fasteners nets Rs 71 crores in Q2 results

Chennai: Sundram Fasteners Limited (SFL), part of the $8.5 bn TVS group announced its Q2 results for FY 2020. The net profit of SFL (standalone) for the Quarter ended 30 September 2019 was at Rs 71.07 crores as against Rs110.66 crores during the same period in the previous year.

A press release said, revenue from the operations of Sundram Fasteners Limited for the quarter ended 30 September 2019 was at Rs. 766.82 crores as against Rs. 998.62 crores during the same period in the previous year, a decrease of 23.2 per cent. Due to the drop in industry volumes, the domestic sales were also lower at Rs 450.01 crores as against Rs. 631.59 crores during the same period in the previous year.

NT Bureau