Sundram Fasteners Ltd (SFL) has reported a 5 per cent increase in its standalone net profit at ₹118 crore for the quarter ended September 30, 2023, compared with ₹112 crore in the year-ago quarter.
Revenue from operations stood at ₹1,234 crore as against ₹1,219 crore. Domestic sales stood at ₹862 crore against ₹802 crore, and export sales declined to ₹337 crore from ₹378 crore.
EBITDA for the September 2023 quarter was at ₹205 crore as against ₹193 crore during the same period in the previous year. The company has improved its EBITDA margin to 16.5% against 15.8% during the same period in the previous year. This has been due to stringent cost control measures and improvement in operational efficiency, according to a company statement.
On a consolidated basis, the company’s net profit for the quarter ended September 30, 2023 was at ₹133 crore as against c117 crore during the same period the previous year.
The standalone net profit for the half-year ended September 30, 2023, was at ₹230 crore as against ₹242 crore in H1 of FY23. Revenues stood at ₹2450 crore as against ₹2458 crore.
The company incurred a capital expenditure for the half year ended in line with its planned capital expenditure of ₹300 crore for FY24.
The board declared an interim dividend of ₹2.68 per share for FY24
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.