Sundram Fasteners Q2 profit muted due to inflationary, input cost pressure

Sundram Fasteners’Q2 net profit came in flat at  Rs 116.78 crores as against net profit of Rs 123.91 crore during the same period in the previous year.  The consolidated earnings per share (EPS) for the quarter ended September 30, 2022 amounted to Rs 5.49 Vs Rs 5.83 in Q2FY2022.

Earnings per share for the quarter ended September 30, 2022 amounted to Rs. 5.32 and was Rs. 5.72 in the corresponding period last year.

The company clocked a growth of 14.6 percent in its Q2FY2023 standalone revenue from operation at Rs 1,218.19 crore from Rs 1,063.07 crore in Q2FY2022.

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The domestic sales for Q2 came in 21 percent higher at Rs 802.45 crore as against Rs 663.26 crore during the previous year.

The company said, despite the impact of heavy inflationary pressures experienced in the raw material costs, the EBITDA for the quarter ended September 30, 2022 at Rs 193.22 crore as against Rs 200.95 crore during the same period in the previous year. 

The Company’s consolidated revenue from operations posted for the quarter ended September 30, 2022 was at Rs 1,401.65 crore as against Rs 1,242.26 Crore during the same period in the previous year, an increase of 12.8 percent.