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