8/13/2010
NEWS BRIEFS
Sundram Fastener Exports Jump
India-based Sundram Fasteners reported a 43% rise in sales to Rs. 406.58 crore for the first quarter of fiscal 2011, which ended June 30, 2010.
Domestic sales grew 38% to Rs. 333.64 crore during the quarter, with fastener exports jumping 69% to Rs. 102.96 crore.
Operating expenses increased 42% to Rs. 349.26 crore, while quarterly net profit improved 32% to Rs. 22.55 crore.
The operating margin was under pressure due to higher cost of inputs, additional usage of captive power and increase in employee costs arising out of long-term settlement in some of the major factories, according to the Hindu. Web: sundram.com ©2010 GlobalFastenerNews.com
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