Sundram Fasteners posts 7% rise in Q3 net profit as global orders rise

Auto components firm says it is 'progressing well' despite macroeconomic challenges

Sundram Fasteners, a supplier to original equipment manufacturers (OEMs) and automakers, on Thursday reported a 7.3 per cent rise in net profit for the third quarter of the Financial Year at Rs 118.07 crore, compared to Rs 110 crore in the same period the previous year.

The company’s consolidated revenue from operations for the quarter ended December 31 was at Rs 1,403.03 crore, a 16.2 per cent rise compared to Rs 1,207.53 crore in the same period the previous year. Consolidated earnings per share (EPS) for the quarter amounted to Rs 5.57: it was Rs. 5.15 in the same period