Sundram Fasteners reports Q3 consolidated net profit at Rs 110 crore

: Sundram Fasteners Ltd, engaged in manufacturing of auto components reported a consolidated profit for the quarter ending December 31, 2021 at Rs 110 crore, the company said on Thursday.

The company had reported consolidated net at Rs 143.70 crore during same period of previous financial year, Sundaram Fasteners said in a statement.

For the nine month period ending December 31, 2021 consolidated profit grew to Rs 354.40 crore from Rs 221.91 crore registered in same period previous fiscal.

Total income on a consolidated basis for the quarter review went up to Rs 1,217.93 crore from Rs 1,118.64 crore registered during same period last financial year.

Total income for the nine-month period on a consolidated basis surged to Rs 3,591.51 crore from Rs 2,397.48 crore registered during same period last financial year.

The Board at its meeting held today, declared an interim dividend of Rs 6.45 per share (645 per cent) for the financial year ending March 31, 2022, the statement said.

The domestic sales for the quarter ending December 31, 2021 were at Rs 658.37 crore as against Rs 637.01 crore registered same period last financial year.

The increase in commodity prices, as well as the costs of logistics and other inputs had a significant impact on the margins, which was mitigated through cost reduction measures and price support from the customers, the company said.

Export sales for the quarter ending December 31, 2021 were at Rs 335.95 crore as against Rs 277.20 crore registered during same period last financial year. The company continues to post a robust growth in export sales it said.