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Sundram Fasteners has reported an 18 per cent increase in net profit at ₹90 crore for the quarter ended June 30, 2017, when compared with ₹76 crore in the year-ago period.
The earnings before interest, depreciation and taxes (EBIDTA) were higher by 12 per cent at ₹156 crore against ₹140 crore, according to a statement.
The company posted revenue from operations (net of excise duty) of ₹789 crore against ₹711 crore in the same period of the previous fiscal.
The export sales were at ₹283 crore against ₹247 crore.
Finance costs were lower at ₹6 crore against ₹14 crore in the year-ago period. Better operating performance due to increased topline and lower financial charges have aided the company’s bottomline in the first quarter of this fiscal which was marked by slowdown due to GST implementation.
The earnings per share amounted to ₹4.29 (it was ₹ 3.60 in the same period last year).
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