Sundram Fasteners Q2 Profit Rises to Rs 143.84 cr

Chennai, Nov 5 (PTI) Sundram Fasteners Ltd reported consolidated profits of Rs 143.84 crore for the second quarter ending September 30, 2024.

The Chennai-headquartered auto-component maker earned profits of Rs 133.05 crore during the corresponding quarter of the previous financial year.

For the half-year ending September 30, 2024, consolidated profits rose to Rs 286.53 crore, up from Rs 261.79 crore a year earlier, the company said in a statement on Tuesday.

Consolidated total income for the quarter under review increased to Rs 1,499.07 crore, compared to Rs 1,429.12 crore in the same period last year. For the half-year ending September 30, 2024, consolidated total income surged to Rs 3,001.92 crore from Rs 2,844.39 crore in the previous year.

During the half-year period ending September 30, 2024, the company incurred capital expenditure of Rs 238.25 crore out of the total earmarked Rs 400 crore for the current financial year. "These investments will help the company scale its business in electric vehicles and hybrid business segments," the statement said.

Domestic sales during the six-month period ending September 30, 2024, were Rs 1,716.72 crore, compared to Rs 1,682.61 crore recorded in the same period last year.

Sales to overseas customers for the half-year period ending September 30, 2024, were Rs 811.68 crore, up from Rs 685 crore in the previous year.

At its meeting, the Board declared an interim dividend of Rs 3 per share (300 percent) for the financial year 2024-25, the company said.