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.

Next Story
Infrastructure Transport

JNPA Becomes First Indian Port to Cross 10 Million TEU Capacity

The Jawaharlal Nehru Port Authority (JNPA), located at Uran in Navi Mumbai, has become the first port in India to achieve over 10 million TEUs (twenty-foot equivalent units) in container handling capacity.With the recent expansion, the port now operates five container terminals with a combined capacity of 10.4 million TEUs, alongside two liquid and two general cargo terminals.Handling more than half of India’s container traffic, JNPA processed 7.05 million TEUs in 2024 and has moved 15.39 million tonnes of containers and 16.64 million tonnes of total cargo in the first two months of FY 2025â..

Next Story
Infrastructure Transport

Nod for Rs. 36.26 billion Expansion of Pune Metro Line 2

The Union Cabinet has approved the Rs.36.26 billion expansion of Pune Metro Line 2, adding 12.75 km of track and 13 new stations to improve east–west connectivity across the city.The project aims to link Pune’s urban core with rapidly growing suburbs, supporting the city’s rising demand for efficient and sustainable transport solutions. This expansion is part of Corridor 2 of the Pune Metro and includes two key routes: Vanaz to Chandani Chowk (Corridor 2A) and Ramwadi to Wagholi/Vitthalwadi (Corridor 2B).It will connect residential, IT, and educational hubs in areas such as Bavdhan, Koth..

Next Story
Infrastructure Transport

Assembly begins for ‘Nayak’ TBM on Thane– Borivali Twin Tunnel Project

The assembly of ‘Nayak’, the first of four Tunnel Boring Machines (TBMs) for the Thane–Borivali Twin Tube Tunnel Project, has commenced at the Thane site. Built by German firm Herrenknecht AG and deployed by Megha Engineering & Infrastructure (MEIL), the TBM marks a key milestone in Mumbai’s ambitious 11.8-km underground road corridor beneath Sanjay Gandhi National Park.The twin tunnels will reduce the Thane–Borivali travel distance by 12 km and decongest Thane Ghodbunder Road. ‘Nayak’, with a 13.2-metre diameter, is designed to bore through challenging geological conditions ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?