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Leading auto components maker Sundram Fasteners has reported an 18 per cent increase in its net profit, at ₹106 crore, for the quarter ended June 30, 2018, from ₹90 crore in the corresponding period of the last fiscal year.
New mark
This is for the first time that the net profit (on a standalone basis) of the company has crossed ₹100 crore in a quarter.
“Strong sales growth of 22 per cent on the back robust vehicle volumes and increamental operating margin helped us achieve higher net profit in Q1 of this fiscal,” according to a top official of the company.
Earnings before interest, depreciation and taxes (EBIDTA) were 20 per cent higher for the June quarter at ₹192 crore (₹160 crore) compared to the year-ago period, according to a company statement.
Sundram Fasteners posted revenue from operations (net of excise duty) at ₹971 crore (₹793 crore), posting an increase of 22 per cent.
Export sales grew 12 per cent for the June quarter at ₹322 crore (₹288 crore).
The earnings per share for the Q1 of this fiscal amounted to ₹5.05 (₹4.29 in the same period last year).
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