Sundram Fasteners Limited (SFL), part of the $7.2 billion TVS group reported a 21.9% rise in net profit, to Rs 110.22 crore, during the second quarter that ended September 2018, from Rs 90.43 crore in the corresponding quarter the previous year. Revenue from operation during the quarter stood at Rs 1001.61 crore, up 22.4% from Rs 818.45 crore during the same period a year ago. SFL has crossed Rs 1000 crore mark in terms of revenue for the first time.
The export sales were at Rs 334.76 crore as against Rs 283.25 crore during the same period in the previous year. Earnings per share stood at Rs 5.25 against Rs.4.30 last year. The board of the company has also declared an interim dividend of Rs 2.00 per share, absorbing a sum of Rs 50.66 crore including dividend distribution tax (DDT) for the year 2018-19. Recently the company has won the prestigious Deming prize for all its 17 plants across entire Indian operations and is the first Indian company to achieve such a record.
