Sundram Fasteners Q2 Net up 42% at Rs 35 cr

Company reported net profits at Rs 25 crore for the July-Sept quarter last fiscal

Auto-component maker Sundram Fasteners has reported a 42.1% jump in net profit at Rs 35.35 crore for the second quarter ended September 30.

For the July-September quarter last fiscal, the city-based company had reported net profits at Rs 24.87 crore, Sundram Fasteners said in a BSE filing.

For the half-year ending September 30, the net profits of the company, rose by 15.4% to Rs 64.81 crore from Rs 56.12 crore, registered during the same period of previous year.

For the financial year ending March 31, 2013 the net profits of the company stood at Rs 95.06 crore, it said.

The total income from operations for the second quarter ending September 30, 2013 remained flat at Rs 501.68 crore as against Rs 509.01 crore registered during the same period of previous year.

For the half-year ending September 30, 2013 the total income from operations stood at Rs 1,025.22 crore as against Rs 1,090.99 crore registered during the same period of previous year.

For the year ending March 31, 2013 the total income from operations stood at Rs 2,069.42 crore, it said.

The company said the sales for the half-year ending September 30, 2013 includes exports of Rs 36,3.68 crore -- as against Rs 356.22 crore registered during the same period of previous year.

The company's Board has decided to pay an interim dividend of Rs 0.70 per share (70%) for the financial year ending March 31, 2014, it said.

Shares of the company were trading at Rs 40.50 apiece upby 11.88% over previous close in afternoon BSE.