Sundram Fasteners Ltd. (SFL) standalone net profit for the quarter ended December rose 3% to ₹106 crore against the year-ago period, despite spike in raw material cost.
During the quarter, revenue from operations rose to ₹1,227 crore from ₹1,024 crore. Raw material costs increased by 28% to ₹580 crore, it said in a regulatory filing.
The domestic sales rose by 23.5% to ₹813 crore and exports by 8.5% to ₹365 crore.
“We have progressed well despite the ongoing macroeconomic challenges,” said Arathi Krishna, MD.
Welcoming the Budget, she said the government has ensured that India will advance and become a modern economy.
“The domestic automotive industry has significant growth potential, driven by a variety of factors, and in order to maintain momentum, the government has consistently prioritised technology connectivity, world-class infrastructure development, and an EV landscape.
“Furthermore, there is growing environmental concern, which is urging the government to promote green mobility. The government’s explicitly realistic announcements will benefit industries such as manufacturing and sustainability,” she said.
