Chennai, Jan 24: Bouyed by the 65 per cent growth in the heavy and medium commercial vehicle segment during April-December '99, Sundaram Clayton has posted a 53 per cent jump in its turnover. The company has registered a turnover of Rs 166.36 crore in the first nine months of the current fiscal compared to Rs 108.64 crore in the corresponding period of the previous year.The operating profit increased to Rs 28.76 crore up from Rs 18.09 crore. Margins at operating level improved from 16.65 per cent to 17.28 per cent indicating better realisations. Interest cost was Rs 0.83 lakh (previous year the company had netted interest income against the expenditure) and depreciation Rs 5.74 crore (Rs 3.98 crore). The company has provided Rs 5.54 crore (Rs 3.15 crore) towards tax and the net profit for the period works out to Rs 16.64 crore compared to Rs 11.18 crore in April-December '98, an increase of 49 per cent.
The company's foundry division, according to a press release, has obtained a letter of intent fromCummins of the US for exports. The division during April-December '99 supplied 1634 tonnes of casting as against 1107 tonnes during last period.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.