Sundram Fasteners Ltd. (SFL), registered a 9% rise in net profit to ₹116 crore for the December quarter from the 12 months ancient times.
Revenue from operations slid by 4% to ₹1,181 crore, of which home gross sales accounted for ₹812 crore and export gross sales ₹339 crore, the producer of high-tensile fasteners stated in a press release.
Pursuant to the latest floods in Chennai, SFL’s amenities at Padi, Velappanchavadi and Gummidipoondi suffered damages to sure inventories and property, plant and gear, the corporate stated.
SFL had recorded a net lack of ₹7 crore after adjusting minimal insurance coverage declare primarily based on an preliminary survey undertaken at these amenities.
The firm stated it continued to have an all-time low debt-equity ratio of 0.11.
SFL stated to date it had incurred capital expenditure in line with its deliberate allocation of ₹300 crore for FY24.
In protecting with the massive EV orders secured by it and the MoU entered with the State Government, capital allocation and growth of merchandise had been in accordance with the timelines deliberate, the corporate stated.
