Sundram Fasteners Q4 net profit up four-fold
Q4 saw 87 crore increase in sales over Q3 and 100 crore increase over the last Q4. In Q4 it's 17.5%," said Meenakshi Sundaram, CFO, Sundram Fasteners.The company's FY15-16 net profit is its highest since inception. Chennai: Auto component major Sundram Fasteners recorded a 372% jump in net profit in the fourth quarter at 75.39 crore, from 15.97 crore last Q4. The Chinese subsidiary Sundram Fasteners (Zhejiang) Limited and the UK subsidiary Cramlington Precision Forge Limited have become subsidiaries of Sundram International Limited. It recorded a (standalone) total revenue of 2,641.38 crore for FY15-16 as against 2,409.75 crore the previous year.
Chennai: Auto component major Sundram Fasteners recorded a 372% jump in net profit in the fourth quarter at 75.39 crore, from 15.97 crore last Q4. This is also the highest quarterly profit for the company in FY15-16. For the entire of FY15-16, the company saw its net profits jump 56% to 211.17 crore as against 135.32 crore in the year-ago fiscal.Driving on sharp increase in sales, the company saw an increase in its revenue.
It recorded a (standalone) total revenue of 2,641.38 crore for FY15-16 as against 2,409.75 crore the previous year. Fourth quarter revenue went up 17.30% to 720.69 crore, from 614.37 crore "The jump in net profits is on account of the increase in sales. Q4 saw 87 crore increase in sales over Q3 and 100 crore increase over the last Q4.
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