Sundram Fasteners July-September qtr standalone net up 21.8%

: Auto component manufacturer Sundram Fasteners Ltd has clocked a 21.8 per cent rise in its standalone net profits for the quarter ending September 30, 2018 to Rs 110.22 crore.

The city-based TVS Group company recorded net profits at Rs 90.43 crore during the corresponding period year ago.

For the half year ending September 30, 2018 net profits of the company grew to Rs 216.40 crore, from Rs 180.60 crore registered during the year-ago period.

Total income for the July-September quarter went up to Rs 1,011.19 crore, from Rs 826.74 crore registered during year ago period.

For the six month period ending September 30, 2018 standalone total income surged to Rs 1,997.47 crore from Rs 1,685.24 crore registered in the year-ago period.

In a statement, the company said it crossed the milestone of posting quarterly revenue from operations of Rs 1,000 crore for the first time.

Sales from overseas market for the quarter ending September 30, 2018 were at Rs 334.76 crore as against Rs 283.25 crore registered in the year-ago period.

The Board at its meeting held Monday, declared an interim dividend of Rs two per share (200 per cent) absorbing a sum of Rs 50.66 crore including dividend distribution tax for the year 2018-19.

Shares of the company were trading at Rs 512.90 apiece, up by 1.09 per cent over previous close in BSE.