2/10/2012 12:01:00 AM
NEWS BRIEFS
Rising Interest Erodes Sundram Fasteners Bottom Line
India-based Sundram Fasteners Ltd. reported net profit fell 11% to Rs 24.84 crore during the fiscal third quarter, hindered by high interest charges and forex fluctuations.
Q3 net sales climbed 14% to Rs 531 crore.
In January Sundram operations in Korkadu village, Puducherry and Mittarnandagapet village, Villupurain District, TamilNadu, were disrupted for nearly two weeks by damage from a cyclone.
Sundram net revenue during the second fiscal quarter of 2011 expanded 17% to 545.57 crore, boosted by strong growth in domestic sales and a 31% jump in exports. Q2 profit dropped 40% to Rs. 18.43 crore. ©2012 GlobalFastenerNews.com
India-based Sundram Fasteners Ltd. reported net profit fell 11% to Rs 24.84 crore during the fiscal third quarter, hindered by high interest charges and forex fluctuations.
Q3 net sales climbed 14% to Rs 531 crore.
In January Sundram operations in Korkadu village, Puducherry and Mittarnandagapet village, Villupurain District, TamilNadu, were disrupted for nearly two weeks by damage from a cyclone.
Sundram net revenue during the second fiscal quarter of 2011 expanded 17% to 545.57 crore, boosted by strong growth in domestic sales and a 31% jump in exports. Q2 profit dropped 40% to Rs 18.43 crore. ©2012 GlobalFastenerNews.com
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