Sundram Fasteners Q1 net falls 13% to ₹93 cr

Our Bureau Chennai | Updated on August 08, 2019 Published on August 08, 2019

Leading auto parts maker Sundram Fasteners has reported a 13 per cent drop in its net profit at ₹93 crore for the quarter ended June 30, 2019 when compared with ₹107 crore in the year-ago period.

The earnings before interest, depreciation and taxes (EBIDTA) was down to ₹177 crore as against ₹193 crore in Q1 of previous fiscal, according to a statement.

The company posted a lower revenue from operations at ₹945 crore (₹969 crore), on the back of slowdown in the domestic market.

Domestic revenue stood at ₹557 crore as against ₹614 crore.

However, the export sales for the June quarter were higher at ₹348 crore against ₹322 crore during Q1 of 2018-19.

The earnings per share for the Q1 of this fiscal amounted to ₹4.43 (₹5.08).

On a consolidated basis, the company's revenue was higher at ₹1185 crore (₹1111 crore), while net profit was lower at ₹97 crore (₹112 crore).

The shares of Sundram Fasteners were at ₹425.55 at around 12.20 pm today.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on August 08, 2019
This article is closed for comments.
Please Email the Editor