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Leading auto component company Sundram Fasteners has reported a 22 per cent increase in its net profit at ₹92 crore for the quarter ended December 31, 2017, compared with ₹75 crore in the year-ago period, helped by strong operating performance on the back of significant growth in revenues.
Profit before exceptional items and taxes was higher at ₹127 crore against ₹103 crore. Finance costs fell to ₹48 lakh when compared with ₹11 crore in the third quarter of previous fiscal.
Sundram Fasteners’ revenue from operations (net of excise duty) grew by 20 per cent at ₹848 crore for the December quarter of this fiscal against ₹707 crore in the same period in the previous year. For the nine-month period ended December 30, 2017, net profit grew by 19.5 per cent at ₹272 crore (₹228 crore). Profit before exceptional items and taxes stood at ₹374 crore (₹309 crore).
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