Sundram Fasteners' net profit grows by 14.5% to Rs 1.38 billion
ECONOMY & POLICY

Sundram Fasteners' net profit grows by 14.5% to Rs 1.38 billion

Auto component major Sundram Fasteners (SFL) has reportedly posted a consolidated net profit of Rs 1.38 billion during Q1 FY23, up 14.5 per cent from Rs 1.21 billion that had been reported during the same period last year.

The company’s revenue from operations for the quarter ended June 30, 2022, came in at Rs 14.1 billion as against Rs 11.29 billion during the corresponding period of FY22, with an increase of 24.8 per cent. The consolidated earnings per share (EPS) for the quarter amounted to Rs 6.47 compared to Rs 5.74 in the corresponding period last year.

The company has reportedly said that it is planning to invest around Rs 3.5 billion over a period of 5 years for manufacturing advanced automotive technology components like powertrain sub-assemblies for electric vehicles (EV) and select internal combustion engine (ICE) vehicles. The investments proposed to be made in this direction are expected to provide a major thrust to the company’s exports in the years to come.

Auto component major Sundram Fasteners (SFL) has reportedly posted a consolidated net profit of Rs 1.38 billion during Q1 FY23, up 14.5 per cent from Rs 1.21 billion that had been reported during the same period last year. The company’s revenue from operations for the quarter ended June 30, 2022, came in at Rs 14.1 billion as against Rs 11.29 billion during the corresponding period of FY22, with an increase of 24.8 per cent. The consolidated earnings per share (EPS) for the quarter amounted to Rs 6.47 compared to Rs 5.74 in the corresponding period last year. The company has reportedly said that it is planning to invest around Rs 3.5 billion over a period of 5 years for manufacturing advanced automotive technology components like powertrain sub-assemblies for electric vehicles (EV) and select internal combustion engine (ICE) vehicles. The investments proposed to be made in this direction are expected to provide a major thrust to the company’s exports in the years to come.

Related Stories

Gold Stories

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 86574 75330

Join us Telegram

Reach out to us

Call us at +91 8108603000 or

Schedule a Call Back