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Auto parts maker Sundram Fasteners has reported an 83 per cent growth in net profit at ₹77 crore for the quarter ended September 30, against ₹42 crore in the year ago period, aided by a strong operating performance. Its EBITDA stood at ₹142 crore (₹104 crore), said a statement.
The company attributed the strong operating performance to volume growth, product mix and specific cost reduction initiatives.
It clocked net total revenues of ₹738 crore during the quarter (₹660 crore), an increase of 12 per cent.
Half year resultsFor the half year ended September 30, the company’s net profit grew 89 per cent to ₹152 crore, against ₹81 crore in H1 FY16.
The EBITDA stood at ₹281 crore (₹198 crore).
Net revenues grew to ₹1,451 crore (₹1,292 crore) while export sales stood at ₹506 crore (₹456 crore). The EPS for H1 FY17 stood at ₹7.26 (₹ 3.84).
The board has declared a dividend of ₹1.70 per share (face value ₹1 each).
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