Sundram Fasteners’ revenue goes down

Chennai: In view of the unprecedented challenges brought upon by the coronavirus pandemic and pursuant to the directives issued by the Central and State governments, Sundram Fasteners Limited had gradually resumed its operations across all the plant locations in the month of May. During the reporting quarter, the company witnessed truncated operations during May and June 2020.

The revenue from operations of Sundram Fasteners Limited was lower at Rs 276.73 crore for the Quarter ended 30 June, 2020 as against Rs 945.35 crore during the same period in the previous year, said a company statement.

Of the total revenue from operations, the export sales for the quarter were at Rs135.02 crore as against Rs 348.28 crore during the same period in the previous year.

The company recorded positive earnings before depreciation and taxes (EBDT) despite challenging market conditions due to stringent cost control measures.

 

NT Bureau