Sundram Fasteners posts Rs 106.18 crore net profit in Q1

Chennai : Automotive components major Sundram Fasteners Ltd on Thursday said it closed the first quarter of the current fiscal with Rs 106.18 crore net profit.

In a statement issued here, the company said it had logged a net profit of Rs 106.18 crore for the quarter ended on June 30, up from Rs 90.17 crore registered during the previous year in the corresponding quarter.

The company recorded revenue from operations of Rs 970.97 crore for the quarter ended on June 30 as against Rs 793.44 crore (net of Excise duty) achieved during the same period in the previous year, an increase of 22.4 per cent.

The export sales for the quarter ended were at Rs 321.71 crore as against Rs 287.98 crore during the same period in the previous year, an increase of 11.7 per cent.