Auto element main Sundram Fasteners (SFL) has reported a 6 per cent dip in consolidated internet revenue within the second quarter of the monetary 12 months 2022-23 at Rs 116.78 crore, in comparison with Rs 123.91 crore in the identical interval the final monetary 12 months.
The corporate’s income for the quarter ended on September 30 this 12 months was Rs 1,401.65 crore, up 13 per cent in comparison with Rs 1,242.26 crore in the identical interval within the earlier 12 months. The consolidated earnings per share (EPS) for the quarter ended September 30, 2022 amounted to Rs 5.49 and was Rs 5.83 within the corresponding interval final 12 months.
The corporate’s board authorised the scheme of amalgamation of Sunfast TVS and TVS Engineering with Sundram Fasteners and their shareholders. “The amalgamation will facilitate operational synergies, environment friendly allocation of capital and supply a platform for integration of the defence and aerospace enterprise of the Firm,” stated an organization assertion on Wednesday.
On a standalone foundation, Sundaram Fasteners reported a 7 per cent dip in internet revenue to Rs 112 crore throughout the quarter beneath evaluate, as towards Rs 120 crore final 12 months. The home gross sales for the quarter ended September 30, 2022 had been at Rs 802.45 crore as towards Rs 663.26 crore throughout the earlier 12 months, posting a strong development of 21 per cent. The export gross sales for the quarter ended September 30, 2022 had been at Rs 377.78 crore as towards Rs 362.81 crore, a rise of 4.1 per cent.
