CHENNAI: Chennai-based manufacturing company Sundram Fasteners, a subsidiary of TVS Group, on Wednesday reported a flat consolidated net profit of Rs 130.80 crore in Q3FY26 compared to Rs 130.73 crore in the last December quarter. The company also saw a 16% fall in net profit quarter-on-quarter from Rs 152.75 crore to Rs 130.80 crore, weighed down by the implementation of the new labour codes and global pressures.
The company, however, saw a 1.2% rise in net profit on a standalone basis from Rs 120.36 crore to Rs 121.88 crore on-year. The company has provisioned one-time increase of Rs 13.11 crore for employee benefits required as per the new labour codes.
The revenue from operations was at Rs 1,351.47 crore for the quarter that ended on December 31, as against Rs 1,256.58 crore during the same period in the previous year. The domestic sales for the quarter that ended on December 31 were at Rs 994.97 crore as against Rs 840.81 crores during the previous year, registering a growth of 18%.
The company said that despite the global headwinds, the export sales for the quarter that ended on December 31 were at Rs 308.41 crore as against Rs 362.79 crore during the previous year.
The company’s consolidated revenue from operations posted for the nine months that ended on December 31 was at Rs 4,595.52 crore as against Rs 4,424.83 crore during the same period in the previous year. The consolidated net profit for the nine months was at Rs 431.49 crore as against Rs. 417.26 crore during the same period in the previous year.