11/8/2012 2:25:00 AM
NEWS BRIEFS
Sundram Fasteners Sees Sales & Profit Rise
Sundram Fasteners reported revenues for the first half of fiscal 2013 grew 3.3% to Rs. 1104 crore, primarily due to export growth of 16% to Rs. 356 crore during the period.
Domestic sales during the half declined 2.6% to Rs. 712.4 crore.
Operating expenses rose 4% to Rs. 947.12, with margins under pressure from higher input and employee costs related to a long-term wage settlement in a major division. Power cost increased substantially.
Gross profit decreased slightly to Rs. 156.9 crore.
Half-year interest rose 37% to Rs. 22.86 crore.
Net after-tax profit increased 5.2% Rs. 56.13 crore, with earnings per share gaining 5% to Rs. 2.67. ©2012 GlobalFastenerNews.com
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