Sundram Fasteners Ltd Reports 10.8% Increase in Q1 Profit

Auto-component manufacturer Sundram Fasteners Ltd reported a consolidated profit of Rs 142.69 crore for the April-June 2024 quarter, marking a 10.8% increase from the previous year. The company's total income rose to Rs 1,502.85 crore, and export sales saw a 21.5% growth.

Auto-component maker Sundram Fasteners Ltd on Wednesday reported a significant rise in its consolidated profit for the April-June 2024 quarter, achieving a 10.8% increase to Rs 142.69 crore.

The Chennai-based company's profit for the corresponding quarter last year stood at Rs 128.74 crore, while the consolidated profit for the year ending March 31, 2024, was Rs 525.64 crore.

Additionally, the total income for the quarter rose to Rs 1,502.85 crore, up from Rs 1,415.27 crore a year ago. The company's export sales showed remarkable growth, increasing by 21.5% to Rs 422.65 crore from Rs 347.99 crore in the same period last year.

(With inputs from agencies.)