Leading auto parts and engineering company Sundaram Fasteners Ltd. has reported a 7 per cent drop in its standalone profit after tax (PAT) of Rs 112 crore for the quarter that ended September 30, 2022, when compared with a PAT of Rs 120 crore in the year-ago quarter. The EBITDA was lower at Rs 193 crore as against Rs 201 crore in the same period of the previous fiscal, amid the impact of heavy inflationary pressures experienced in the raw material costs.
The revenue from operations stood at Rs 1,218 crore for the September 2022 quarter, as against Rs 1,063 crore in the year-ago quarter, an increase of 15 per cent. The domestic sales were at Rs 802 crore as against Rs 663 crore, an increase of 21 per cent. Exports grew 4 per cent to Rs 378 crore (Rs 363 crore), according to a statement.
For the second quarter of this fiscal year, its consolidated revenue and PAT stood at Rs 1,402 crore (Rs 1,242 crore in Q2 of FY22) and Rs 117 crore (Rs 124 crore), respectively. For the half-year that ended September 30, 2022, the standalone net profit was higher at Rs 242 crore when compared with Rs 233 crore in H1 of the previous fiscal.
Revenue stood at Rs 2,458 crore as against Rs 2002 crore, an increase of 23 per cent. The board has declared an interim dividend of Rs 3.57 per share (357%) for FY23. It also declared an additional special dividend of Rs 2 per share (200%) to commemorate the 60th year of incorporation of the Company.