The Hindu Business Line : Sundram Fasteners H1 net up at Rs 31.06 cr

SUNDRAM Fasteners Ltd has recorded total sales of Rs 577.79 crore (Rs 486.31 crore) for the half year ended September 30.The net profit after tax for the period was Rs 31.06 crore (Rs 26.34 crore). The company has declared an interim dividend of Rs 0.85 per share (of face value Rs 1 each), or 85 per cent.

"Operating margins during the period were under strain due to continuous pressure on domestic selling prices, and steep hike in the cost of inputs, especially steel and petro products. The pressure on margins is likely to remain during the rest of the financial year," says a press release from the company.

Interest expense for the period was Rs 7.39 crore (Rs 3.19 crore) on account of increase in interest rates and higher borrowings.

Exchange loss on foreign currency loans amounted to Rs 2.99 crore (Rs 9.09 crore).

Profit before depreciation was Rs 60.51 crore as compared to Rs 50.80 crore during the same period last year.

Depreciation for the period was Rs 13.01 crore (Rs 11.26 crore). Provision for taxation including deferred tax and Fringe Benefits Tax was Rs 16.44 crore (Rs 13.20 crore).

Operating expenses, including excise duty, were at Rs 507.42 crore (Rs 423.80 crore).

Export sales for the period increased by 27 per cent to Rs 155.33 crore (Rs 122.23 crore).

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page