Sundaram Fasteners records Rs 1063.35 crore

Chennai, Jun 17: Sundaram Fasteners, a TVS group company, recorded a total sales and other income of Rs 1063.35 crore for the year ended March 31, 2006 as against Rs 930.93 crore achieved during the previous year.

A company release here said the exports during the year were also higher at Rs 323.33 crore compared to Rs 261.11 crore last year, registering an increase of 24 per cent. The exports constituted over 30 per cent, it said.

The domestic sales, net of excise duties, increased to Rs 738.67 crore as against Rs 668.44 crore in the previous year. The operating expenses stood at Rs 910.23 crore compared to Rs 798.95 crore previous year. The high volume of sales, both domestic and exports, resulted in improved operating profits.

The Gross profit before interest, depreciation, extra-ordinary items and provision for taxation, increased by 16 per cent to Rs 153.12 crore during the year as against Rs 131.97 crore in the previous year, recording an increase of Rs 21.15 crore, the release added.

UNI