Sundaram-Clayton Ltd, the flagship company of diversified conglomerate TVS Group, has reported a 56 per cent decline in its standalone net profits for the fourth quarter ending March 31, 2017 at Rs 38.36 crore. The Chennai-based auto-component manufacturer, had reported a standalone profit at Rs 87.32 crore registeed during same period of previous year.
For the full year ending March 31, 2017 standalone net profits declined by 26.8 per cent to Rs 105.59 crore from Rs 144.44 crore registered during the corresponding period last year. Total income for the January-March 31, 2017 quarter slipped to Rs 415.84 crore from Rs 457.09 crore registered during corresponding quarter of previous year.
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For the financial year ending March 31, 2016, total income dipped to Rs 1,589.67 crore from Rs 1,633.03 crore registered during year ago period. Shares of the company ended at Rs 4,210 apiece down by 1.97 per cent over the previous close in BSE.