Leading auto component company Sundram Fasteners reported a 17-per cent increase in its net profit at ₹90 crore for the quarter ended September 30, 2017, compared with ₹77 crore in the year-ago period.
The earnings before interest, depreciation and taxes (EBIDTA) stood at ₹159 crore, as against ₹142 crore, a growth of 13 per cent.
Sundram Fasteners’ revenue from operations (net of excise duty) grew 10 per cent to ₹814 crore (₹737 crore).
“We sustained EBIDTA margins during Q2 and incremental sales contributed to the bottomline growth,” said S Meenakshisundaram, Chief Financial Officer.
For the half year ended September 30, 2017, company’s net profit grew 18 per cent at ₹181 crore compared with ₹152 crore in the year-ago period.
EBITDA for the first half stood at ₹316 crore as against ₹281 crore, an increase of 12 per cent, according to a statement.
Revenues grew to ₹1,603 crore from ₹1,448 crore. Export sales stood ₹562 crore as against ₹506 crore.
The Board declared a dividend of ₹1.90 per share (face value ₹1 each).