MUMBAI: Auto component maker Sundram Fasteners has reported a standalone net profit of Rs 130.64 crore for the three months ending September compared to Rs 118.26 crore in the year-ago period, reporting a growth of 10.5 percent on-year.
The Chennai–based company with a diverse range of products also declared an interim dividend of 300 percent or Rs 3 per share.
The company said its revenue rose to Rs 1,288.84 crore for the quarter compared to Rs 1,232 crore during the same period in the previous year. Of this, domestic sales came in at Rs 861 crore compared to Rs 859.37 crore a year ago and exports fetched Rs 389 crore compared to Rs 337 crore.
The company attributed the good numbers to higher exports and stable commodity prices, which also helped it expand the margins from 16.6 percent to 17.3 percent.
Sundram Fasteners has a track record of over 60 years. Its product range included high-tensile fasteners, powder metal components, cold extruded parts, hot forged components, radiator caps, automotive pumps, gear shifters, gears and couplings, powertrain components etc.