Sundaram Fasteners record sales worth Rs 298.6 crore

Chennai, July 30 (UNI) Sundaram Fasteners Limited recorded total sales and other income of Rs 298.60 crore for the quarter ended June 30, 2007, as against Rs 291.64 crore achieved during the same period last year.

Export sales for the period was Rs 76.43 crore, which constituted more than 25 per cent of the total sales, as against 30 per cent in the previous year, a company release here said.

The fall in export sales was due to strengthening of the Rupee and slowdown in the US market. Domestic sales, net of excise duties, increased by nine per cent to Rs 221.84 crore, though there was a slowdown in the domestic automobile industry, it said.

The gross profit before interest, depreciation and provision for taxation amounted to Rs 39.84 crore, the release said.

UNI