Sundaram Clayton profit dives

Aluminium die-castings maker Sundaram Clayton’s first quarter profits have dipped 25 per cent (year-on-year) to Rs 4.49 crore. Net sales, however, grew 13 per cent to Rs 266 crore. H. Lakshmanan, Executive Director, said power and fuel costs have impacted margins. “The drop in the domestic market has been made up by exports, which account for 40 per cent of business,” he said. The company is not sure how the domestic market will perform going forward. Lakshmanan expects exports growth to continue for another quarter. The company’s shares remained unchanged at Rs 174.50 on the BSE on Wednesday.