Sumdaram Fasteners records profit

Chennai, Oct 28 (UNI) Sundram Fasteners Limited has recorded total sales and other income of Rs 605.02 crore for the half year ended September 30, 2006 as against Rs 516.50 crore achieved during the same period last year.

Export sales for the period increased by 20 per cent to Rs 186.34 crore as against Rs 155.33 crore, while domestic sales, net of excise duties, increased to Rs 417.84 crore (Rs 360.65 crore), an increase of 16 per cent, a company release said.

The higher volume of sales, both domestic and exports, resulted in improved operating profits. Gross Profit before interest, depreciation and provision for taxation increased by over 43 per cent to Rs 101.78 crore during the period (Rs 70.89 crore), an increase of Rs. 30.89 crore.

The net profit after tax was higher at Rs 43.46 crore (Rs 31.06 crore), the release added.

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