Companies

Sundram Fasteners reports Q1 loss of ₹23 crore

Our Bureau Chennai | Updated on August 12, 2020

Sundram Fasteners’ EBDT for the June 2020 quarter was at ₹5.08 crore as against ₹167.25 crore in the year-ago quarter   -  Supplied Pic

Leading auto parts-maker Sundram Fasteners reported a net loss of ₹23.48 crore for the quarter ended June 30, 2020 compared with a net profit of ₹93.11 crore in the same period a year ago, on the back of unprecedented challenges brought about by the Covid-19 pandemic and the resultant impact.

The revenue from operations of was lower at ₹276.73 crore as against ₹945.35 crore. Of the total revenue, export sales stood at ₹135.02 crore as against ₹348.28 crore.

“The company recorded positive earnings before depreciation and taxes (EBDT) despite challenging market conditions due to stringent cost-control measures,” said a company statement.

The EBDT for the June 2020 quarter was at ₹5.08 crore as against ₹167.25 crore in the year-ago quarter.

On a consolidated basis, the company reported a net loss of ₹25.43 crore as against a net profit of ₹96.89 crore during the same period in the previous year.

Its consolidated revenue stood at ₹373.17 crore as against ₹1,180.64 crore. The EBDT for the quarter ended June 30, 2020 was at ₹12.35 crore compared with ₹182.87 crore in the year-ago period.

Published on August 12, 2020

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