Jason Sandefur

India-based Sundram Fasteners Ltd. reported sales rose 19% to Rs 5.77 billion (US$128.26 million) for the first half of fiscal 2006, according to the Hindu Business Line. Six-month net profit grew 18% to Rs 310.6 million, while export sales increased 27% to Rs 1.55 billion.
Second quarter sales grew 15.6% to Rs 2.63 billion, but net profit dipped 7% to Rs 137.2 million.
“Operating margins during the period were under strain due to continuous pressure on domestic selling prices, and steep hike in the cost of inputs, especially steel and petro[leum] products,” Sundram declared in a written statement. Web: sundram.com �2005 FastenerNews.com