 "Sundram Fasteners Q2 results: Net profit rises 14% rise to Rs 133 crore")
Auto component major Sundram Fasteners (SFL) has posted a 14 per cent rise in consolidated net profit for the second quarter ended September 30, 2023, to Rs 133.05 crore, as against Rs 116.78 crore during the previous year.
The Company’s consolidated revenue from operations for the quarter ended September 30, 2023, was at Rs 1,421.82 crore, up 1.4 per cent, as against Rs 1,401.65 crore during the same period in the previous year. The consolidated earnings per share (EPS) for the quarter amounted to Rs 6.28, compared to Rs 5.49 in the corresponding period last year.
The Board at its meeting has declared an interim dividend of Rs 2.68 per share (268 per cent) for the financial year 2023-2024. The same will be paid to the members/beneficial owners, whose names appear in the register of members/register of beneficial owners maintained by the Depositories as on November 16, 2023.
The Company has incurred capital expenditure for the half-year ended September 30, 2023, in line with its planned capital expenditure of Rs 300 crore for the financial year 2023-24. In keeping with the large electric vehicle (EV) orders secured by the Company, capital allocation and development of products are in accordance with the timelines planned by the Company.