BUSINESS

Sundram Fasteners' net profit improves

Sundram Fasteners has registered a 43 per cent rise in its sales and other income at Rs. 406.04 crore in the quarter ended June 30, 2010, against Rs. 283.60 crore during the same period in the previous year.

The net profit has improved to Rs. 22.55 crore from Rs. 17.03 crore.

Export sales have risen to Rs. 102.96 crore from Rs. 60.72 crore. Domestic sales, net of excise duties, were higher at Rs. 302.82 crore against Rs. 222.50 crore.

Operating expenses were Rs. 349.26 crore against Rs. 244.87 crore.

The operating margin was under pressure due to higher cost of inputs, additional usage of captive power and increase in employee costs arising out of long-term settlement in some of the major factories.



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