Sundram Fasteners achieves increase in export sales

Chennai, Jan 29 (UNI) Sundram Fasteners Ltd today recorded an increase of export sales by 18 per cent for the nine months ended 31 December to Rs 27.31 crore as against Rs 233.33 crore during the same period in the previous year.

The Domestic sales net of excise duties, increased to Rs 633.36 crores (Rs. 547.74 crores), an increase of 16 per cent, a press release said here.

Total sales and other income for the period increased to Rs 909.98 crore as against Rs 781.86 crore achieved during the same period in the previous year.

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 32 per cent to Rs 145.23 crore during the period (Rs 110.26 crore), an increase of Rs 34.97 crore.

Operating expenses were at Rs 764.75 crore (Rs 671.60 crores).

The provision for taxes, inclusive of Fringe benefit tax and deferred tax, was at Rs 31.31 crore (Rs 21.80 crores).

The net profit after tax was higher at Rs 64.40 crore.

The Board of Directors has allotted 10,50,64,185 bonus equity shares of one rupee each in the ration of 1:1.

Earnings per share(EPS) computed on the basis of new number of shares amounted to Rs 3.06, the release added.

UNI