Sundaram Fasteners 3qtr standalone net rises 63.3%

: Sundaram Fasteners Ltd, a TVS Group company, has registered a 63.3 per cent rise in its standalone net profits for the third quarter ending December 31, 2016 to Rs 75.34 crore.
The Chennai-based suppliers of parts to the automotive and industrial segment had registered net profits at Rs 46.11 crore in the corresponding quarter of the previous year.
Net profits for the nine month period ending December 31, 2016 surged to Rs 227.82 crore from Rs 126.79 crore registered during the corresponding quarter of previous year.
Total income from operations for the October-December 31, 2016 quarter grew to Rs 709.32 crore from Rs 613.90 crore registered during the year ago period.

For the nine month period ending December 31, 2016 total income from operations went upto Rs 2,160.53 crore from Rs 1,906.15 crore registered during same period of last year.
The earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter ending December 31,2016 increased to Rs 135.62 crore from Rs 96.53 crore registered during same period of previous year.

For the nine month period ending December 31, 2016 EBITDA increased to 417.09 crore from Rs 294.91 crore registered during the year ago period.
The EBITDA margin increased during the period ending December 31, 2016 due to "volume growth, product mix and specific cost reduction initiatives", the statement said.

On exports, the company said it grew to Rs 260.50 crore for the quarter ending December 31, 2016 as against Rs 211.41 crore registered during the year ago period.
For the nine month period ending December 31, 2016 exports grew to Rs 766.57 crore as against Rs 667.90 crore registered during same period of previous year.
Domestic sales for the nine month period ending December 31, 2016 was at Rs 1,358.08 crore as against Rs 1,205.50 crore registered in the same period of the previous year.