Sundaram Clayton posts net profit of ₹28 crore in Q1

July 29, 2022 07:51 pm | Updated 09:08 pm IST - CHENNAI

Sundaram Clayton Ltd (SCL) has reported a standalone net profit of ₹28 crore for the first quarter.

The company had posted a net profit of ₹1,501 crore in the year-earlier period which included a one-time gain ₹1,489 crore from the sale of 5.14% stake in TVS Motor Co.

Revenue from operations grew by 36% to ₹512 crore. Cost of materials increased by 47% to ₹290 crore, it said in a regulatory filing.

During the quarter, the standalone net profit included an exceptional item of ₹16 crore (interest income of ₹23 crore and voluntary separations cost ₹7 crore).

The board on Friday appointed R. Gopalan as additional director and also as chairman with immediate effect, subject to shareholders approval.

Top News Today

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.