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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.
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