The Hindu Business Line : Sundaram Brake Linings fourth quarter net up 45 pc

Sundaram Brake Linings Ltd recorded net sales of Rs 38.66 crore for the fourth quarter ended March 31 2006 (Rs 32.31 crore), a growth of 20 per cent. Net profit for the quarter stood at Rs 3.19 crore (Rs 2.19 crore), an increase of 45 per cent.

For the year ended March 31, 2006, the net sales of the company were Rs 144.73 crore (Rs 132.77 crore), an increase of 9 per cent, and the net profit stood at Rs 10.39 crore (Rs 10.15 crore) an increase of two per cent.

The company has declared a second interim dividend of Rs 5 per equity share (50 per cent) for the year, making the aggregate of interim dividends declared for the year Rs 10 per equity share (100 per cent), absorbing a sum of Rs 2.71 crore, excluding dividend tax payable by the company.

The company's domestic market grew at 22 per cent to Rs 89.91 crore (Rs 73.98 crore) for the year ended March 31, 2006 whereas the export market dropped by seven per cent to Rs 54.82 crore (58.78 crore).

The interest cost increased by 42 per cent to Rs 43.55 lakh (Rs 16.91 lakh) for the fourth quarter, which was because of capital expenditure financing through term loan, said a release.