Sundram Fasteners, portion of the TVS Group, on Thursday reported highest ever profit immediately after tax (PAT) of Rs 124.24 crore for the December 2020 quarter, as against Rs 103.06 crore in the exact same period the earlier year, registering an boost of 20.6%. Revenue from operations enhanced by 36% to Rs 942.20 crore from Rs 692.80 crore.
The Ebitda for the quarter was at Rs 205.85 crore as against Rs 124.54 crore, an boost of 65.3%. The enterprise has posted and sustained a larger Ebitda percentage on income from operations at 21.8% as against 18% due to price manage measures and improvement in operational efficiency, it stated in a release.
With increasing commodity rates, the enterprise continues to workout stringent measures to include its operating expenses, it stated.
Domestic sales have been at Rs 637.01 crore as against Rs 446.05 crore final year, a development of 42.8% on the back of boost in domestic demand. Export sales have been at Rs 277.20 crore as against Rs 224.18 crore, an boost of 23.7%.
The company’s item variety consists of higher-tensile fasteners, powder metal elements, cold extruded components, hot forged elements, radiator caps, automotive pumps, gear shifters, gears and couplings, hubs and shafts, tappets and iron powder. Over the years, the enterprise has acquired cutting-edge technological competencies in forging, metal forming, close-tolerance machining, heat remedy, surface finishing and assembly.
Sundram Fasteners stated that with enhancing small business circumstances, the management has restored salaries of personnel to pre-Covid-19 levels in the third quarter. Due to the influence of the pandemic, salaries had been lowered in May 2020.