Sundram Fasteners Ltd (SFL), a part of the $6 billion TVS group, has posted 63.14% increase in its standalone net profit for the third quarter ended December 31, 2016 at ₹75.34 crore on volume growth, product mix and specific cost reduction initiatives of the company.
The Chennai-based leading auto component manufacturer posted net profit of ₹46.11 crore for the corresponding period year-ago.
During the period under review, the company reported revenue of ₹709.32 crore against ₹613.90 crore. The export sales stood at ₹260.50 crore against ₹211.41 crore. Earnings before interest, depreciation and taxes increased to ₹135.62 crore from ₹96.53 crore, according to a company release.
