Sundram Fasteners Ltd, engaged in auto components manufacturing, has reported a standalone profit for the July-September 2023 quarter at INR 117.93 crore, the company said. The standalone profit during the corresponding quarter of last financial year was at INR 111.75 crore, the Chennai-headquartered company said.
For the six-month period ended September 30, 2023 the standalone profit was at INR 230.46 crore, as against INR 241.86 crore registered in the same period of last year, the company said.
The standalone total income during the quarter under review grew to INR 1,238.97 crore, from INR 1,225.85 crore registered during the corresponding period of last year.
For the half year ended September 30, 2023 the standalone total income stood at INR 2,456.58 crore as against INR 2,472.07 crore registered a year ago.
In a statement on Sunday, the company said its domestic sales for the quarter ended September 30, 2023 were at INR 861.78 crore as against INR 802.45 crore registered during the same period of last year.
Exports sales during the quarter were at INR 337.01 crore as against INR 377.78 crore registered in the same period of last year.
The Board which met here recently, declared an interim dividend of INR 2.68 per share (268 %) for the financial year 2023-24.
The company said it incurred INR 300 crore as Capital Expenditure for FY 2023-24. “In keeping with the large EV orders secured by the company, capital allocation and development of products are in accordance with the timelines planned by the company,” the statement said.
The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) for the quarter ended September 30, 2023 was at INR 205.27 crore, as against INR 193.22 crore during the same period of the last year.
The company has improved its EBITDA margin at 16.5 % as against 15.8 % during the same period in the previous year.
“This has been due to the stringent cost control measures and improvement in operational efficiency,” the statement added.
