Sundram Fasteners reports standalone Q4 net profit at Rs 71.41 cr

: Sundram Fasteners Ltd., engaged in manufacturing of auto components, on Saturday said the standalone net profit was at Rs 71.41 crore for the fourth quarter ending March 31, 2021.

The city-based TVS Group company had registered standalone net profit at Rs 130.02 crore during corresponding quarter previous year.

Net profit for the year ending March 31, 2022 was at Rs 407.46 crore, as against Rs 328.14 crore recorded last fiscal, Sundram Fasteners said in a press release.

The revenue from operations for the quarter under review stood at Rs 1,146.44 crore, as against Rs 1,079.25 crore registered in the corresponding period last year. For the year ending March 31, 2022, the revenue from operations was at Rs 4,172.57 crore as compared to

Rs 3,065.03 crore registered last year same period.

Sales from exports during the January-March 2022 quarter grew to Rs 366.01 crore, as against Rs 337.21 crore recorded in same period last fiscal.

Export sales for the year ending March 31, 2022 went up to Rs 1,421.09 crore, as against Rs 1,009.71 crore recorded in same period last fiscal.

In a statement, Sundram Fasteners Ltd said the company incurred Rs 146 crore towards capital expenditure as part of capacity expansion of existing lines of business.

The capital expenditure was incurred to augment capacities for meeting the increase in the volume of business in tandem with the production plans of key customers, it said.