Profit statements

Sundram Fasteners reports fourth quarter standalone net profit at Rs 71.41 cr

: Sundram Fasteners Ltd., engaged in the manufacture of automotive components, said on Saturday that standalone net profit was Rs 71.41 crore for the fourth quarter ending March 31, 2021.

The city-based TVS Group company had recorded a standalone net profit of Rs 130.02 crore in the corresponding quarter of the previous year.

Net profit for the year ending March 31, 2022 was Rs 407.46 crore, compared to Rs 328.14 crore recorded last financial year, Sundram Fasteners said in a press release.

Operating revenue for the quarter under review amounted to Rs 1,146.44 crore compared to Rs 1,079.25 crore recorded in the corresponding period last year. For the year ending March 31, 2022, operating income was Rs 4,172.57 crore from

Rs 3,065.03 crore recorded last year at the same period.

Export sales in the January to March quarter of 2022 reached Rs 366.01 crore compared to Rs 337.21 crore recorded in the same period of the previous financial year.

Export sales for the year ending March 31, 2022 increased to Rs 1,421.09 crore from Rs 1,009.71 crore recorded in the same period of the previous financial year.

In a statement, Sundram Fasteners Ltd said the company had committed Rs 146 crore for capital expenditure as part of the capacity expansion of existing business lines.

Capital expenditures have been made to increase capacity to meet increased business volume alongside major customers’ production plans, he said.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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