Sundram Fasteners profit after tax up 21% to Rs 124 cr in Q3

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February 05, 2021 12:30 AM

With rising commodity prices, the company continues to exercise stringent measures to contain its operating costs, it said.

The Ebitda for the quarter was at Rs 205.85 crore as against Rs 124.54 crore, an increase of 65.3%.The Ebitda for the quarter was at Rs 205.85 crore as against Rs 124.54 crore, an increase of 65.3%.

Sundram Fasteners, part of the TVS Group, on Thursday reported highest ever profit after tax (PAT) of Rs 124.24 crore for the December 2020 quarter, as against Rs 103.06 crore in the same period the previous year, registering an increase of 20.6%. Revenue from operations increased by 36% to Rs 942.20 crore from Rs 692.80 crore.

The Ebitda for the quarter was at Rs 205.85 crore as against Rs 124.54 crore, an increase of 65.3%. The company has posted and sustained a higher Ebitda percentage on revenue from operations at 21.8% as against 18% due to cost control measures and improvement in operational efficiency, it said in a release.

With rising commodity prices, the company continues to exercise stringent measures to contain its operating costs, it said.

Domestic sales were at Rs 637.01 crore as against Rs 446.05 crore last year, a growth of 42.8% on the back of increase in domestic demand. Export sales were at Rs 277.20 crore as against Rs 224.18 crore, an increase of 23.7%.

The company’s product range consists of high-tensile fasteners, powder metal components, cold extruded parts, hot forged components, radiator caps, automotive pumps, gear shifters, gears and couplings, hubs and shafts, tappets and iron powder. Over the years, the company has acquired cutting-edge technological competencies in forging, metal forming, close-tolerance machining, heat treatment, surface finishing and assembly.

Sundram Fasteners said that with improving business conditions, the management has restored salaries of employees to pre-Covid-19 levels in the third quarter. Due to the impact of the pandemic, salaries had been reduced in May 2020.

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