Sundram Fasteners Q1 Profit Up 10.8% to Rs 142.69 cr

Chennai, Jul 31 (PTI) Auto-component maker Sundram Fasteners Ltd on Wednesday reported a consolidated profit for the April-June 2024 quarter, up by 10.8 per cent at Rs 142.69 crore.

The city-based company had registered a consolidated profit of Rs 128.74 crore registered in the corresponding quarter of last year. For the year ending March 31, 2024, the consolidated profit stood at Rs 525.64 crore.

The total income during the quarter under review grew to Rs 1,502.85 crore, from Rs 1,415.27 crore registered the year ago period.

For the year ending March 31, 2024, the consolidated total income stood at Rs 5,720.47 crore.

In a statement, the company said the domestic sales on standalone basis for the quarter under review were at Rs 855.75 crore, as against Rs 823.94 crore registered a year ago.

Export sales during the June quarter grew by 21.5 per cent to Rs 422.65 crore, from Rs 347.99 crore made during the corresponding period of last year.

The Earnings Before Interest, Taxes, Depreciation, and Amortization for the quarter ended June 30, 2024 was at Rs 223.06 crore, as against Rs 197.66 crore recorded in the same period of last year.

The company has incurred capital expenditure of Rs 148.37 crore for the quarter ending June 30, 2024, in line with its planned capital expenditure for the financial year 2024-25, the statement added.