Sundram Fasteners Q2 standalone Net soars 82.4 pc

Sundram Fasteners, a TVS Group company, has recorded 82.4 per cent rise in standalone net profit at Rs 76.93 crore for the quarter ending September.
The company had registered a standalone net profit of Rs 42.16 crore during the corresponding period of previous year.
Total income from operations for the three-month period ending September 30, 2016 grew to Rs 738.21 crore from Rs 660.31 crore registered during same period of previous year.
Its domestic sales, net of excise duties, for the half year ended September 30, 2016 were at Rs 919.94 crore as against Rs 814.70 crore registered during same period of previous year.

The export sales for the half year ending September 30, 2016 grew to Rs 506.07 crore as compared to Rs 456.48 crore registered during year ago period.
The Board of Directors have declared an interim dividend of Rs 1.70 per share with face value of Re one each.
Shares of the company closed at Rs 319.20 apiece, down by 4.30 per cent on BSE today.