Sundram Fasteners reports Q3 standalone net at Rs 106.13 cr
The margins have been under pressure during the period ending December 31, 2022 due to the increase in prices of raw materials, the company said.Commenting on the financial performance, Sundram Fasteners Ltd Managing Director, Arathi Krishna said, we have progressed well despite the ongoing macroeconomic challenges. We thank our employees, suppliers and customers for the continued trust and will strive to deliver continued performance, she added.
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- India
Auto components maker Sundram Fasteners Ltd has registered standalone profit for the October-December 2022 quarter at Rs 106.13 crore, the company said on Thursday.
The city-based firm had registered standalone net at Rs 103.34 crore during the corresponding quarter of previous year. For the nine-month period ending December 31, 2022, the standalone net surged to Rs 347.99 crore as against Rs 336.05 crore registered last year.
Total income during the quarter under review went up to Rs 1,236.18 crore from Rs 1,028.22 crore registered last year. The total income for the nine-month period ending December 31, 2022 stood at Rs 3,708.25 crore as against Rs 3,040.86 crore recorded last year.
Export sales for the quarter ending December 31, 2022 accounted to Rs 364.64 crore as against Rs 335.95 crore recorded last year.
The company has sustained earnings before interest, depreciation and taxes for the quarter ending December 31, 2022 at Rs 188.19 crore as against Rs 180.04 crore last year. ''The margins have been under pressure during the period ending December 31, 2022 due to the increase in prices of raw materials,'' the company said.
Commenting on the financial performance, Sundram Fasteners Ltd Managing Director, Arathi Krishna said, ''we have progressed well despite the ongoing macroeconomic challenges.'' ''We thank our employees, suppliers and customers for the continued trust and will strive to deliver continued performance,'' she added.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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