Companies

Sundram Fasteners’ Q2 profit falls 36%

Our Bureau Chennai | Updated on November 04, 2019

Leading auto component company Sundram Fasteners has reported a 36 per cent fall in its net profit at ₹71 crore for the quarter ended September 30, 2019 compared with ₹111 crore in the year-ago period.

The EBIDTA stood at ₹145 crore as against ₹199 crore.

Sundram Fasteners’ revenue declined by 23 per cent at ₹767 crore for the second quarter of this fiscal as against ₹999 crore in the same period in the previous year. The domestic sales was lower at ₹450 crore as against ₹632 crore during the same period in the previous year, on the back of drop in industry volumes.

The export sales for this September quarter stood at ₹291 crore as against ₹335 crore during the same period in the previous year. On a consolidated basis, the company’s net profit was ₹71 crore (₹118 crore). Consolidated revenues stood at ₹895 crore (₹1,170 crore).

The Board has declared an interim dividend of ₹1.35 per share (135 per cent) for the year 2019-20.

Published on November 04, 2019

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