Sundram Fasteners Q2 net up 17.5% to Rs 90 cr, revenue rises 10%

Market not impressed, shares end 1.89% down on BSE

Sundram Fasteners Limited (SFL), part of the $7.2 billion TVS group, has reported a 17.5 per cent rise in net profit, to Rs 90.43 crore, during the second quarter ended September 2017, from Rs 76.93 crore in the corresponding quarter the previous year.

Revenue during the quarter stood at Rs 813.72 crore, up 10.4 per cent from  Rs 737.12 crore during the same period a year ago.

The company's export sales for the half year ended September 2017 stood at Rs 561.87 crore, compared with Rs 506.07 crore in the comparable period a year ago.

The company's Board of Directors has decided to pay an interim dividend of Rs 1.90 a share, or 190 per cent, for the financial year ended March 2018 to the members/beneficial owners as on the record date, which falls on 14 November 2017.

Shares of the company ended 1.89 per cent down at Rs 515.15 on the Bombay Stock Exchange on Thursday.