Leading auto parts and engineering company Sundram Fasteners Ltd has reported a 17 per cent increase in its standalone profit after tax (PAT) of ₹132 crore for the quarter ended June 30, 2024, compared with a PAT of ₹113 crore in the year-ago quarter. This increase was aided by improved operating performance on the back of strong growth in export revenue.
The EBITDA stood at ₹223 crore compared with ₹198 crore in the same period of the previous fiscal year.
The company has reported its EBITDA margin at 17 per cent. The gross margin improved from 55.9 per cent to 57.5 per cent with the support of robust export performance, stable commodity prices, and a favourable product mix., according to a company statement.
Profit before tax stood at ₹177 crore, compared to ₹151 crore, marking an increase of 17 per cent.
The revenue from operations grew by 7.7 per cent to ₹1,310 crore, the highest-ever quarterly revenue, compared to ₹1,217 crore in the year-ago quarter. Domestic sales grew to ₹856 crore compared to ₹824 crore. Exports reported a strong increase of 21.5 per cent to ₹423 crore compared to ₹348 crore.
“We have commenced FY25 with strong numbers and are pleased to report the highest-ever revenue from operations and profit before tax, demonstrating the resilience of our business model and the strong demand for our products,” said Arathi Krishna, Managing Director, Sundram Fasteners Ltd.
On a consolidated basis, the company’s PAT stood at ₹143 crore in Q1 of this fiscal, compared to ₹129 crore in the year-ago quarter. Revenue stood at ₹1,498 crore, compared to ₹1,411 crore.
The company has incurred capital expenditure of ₹148 crore in Q1 of this fiscal.