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Sundram Fasteners Ltd, engaged in auto components manufacturing, has reported a standalone profit for the July-September 2023 quarter at ₹117.93 crore.
“The standalone profit during the corresponding quarter of last financial year was at ₹111.75 crore,” the Chennai-headquartered company said.
“For the six-month period ended September 30, 2023, the standalone profit was at ₹230.46 crore, as against ₹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 ₹1,238.97 crore from ₹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 ₹2,456.58 crore as against ₹2,472.07 crore registered a year ago.
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In a statement on Sunday, the company said its domestic sales for the quarter ended September 30, 2023, were at ₹861.78 crore as against ₹802.45 crore registered during the same period last year.
Exports sales during the quarter were at ₹337.01 crore as against ₹377.78 crore registered in the same period of last year.
The board declared an interim dividend of ₹2.68 per share (268 per cent) for the financial year 2023-24.
The company said it incurred ₹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 ₹205.27 crore, as against ₹193.22 crore during the same period of the last year.
The company has improved its EBITDA margin at 16.5 per cent as against 15.8 per cent 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.
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