Sundram Fasteners Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 02, 2024 at 03:25 am EST
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Sundram Fasteners Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 13,672.5 million compared to INR 14,030.3 million a year ago. Revenue was INR 13,983.8 million compared to INR 14,230.7 million a year ago. Net income was INR 1,286.6 million compared to INR 1,170.2 million a year ago. Basic earnings per share from continuing operations was INR 6.12 compared to INR 5.57 a year ago. Diluted earnings per share from continuing operations was INR 6.12 compared to INR 5.57 a year ago.
For the nine months, sales was INR 41,998.3 million compared to INR 42,148 million a year ago. Revenue was INR 42,427.7 million compared to INR 42,561.4 million a year ago. Net income was INR 3,881.3 million compared to INR 3,683.3 million a year ago. Basic earnings per share from continuing operations was INR 18.47 compared to INR 17.53 a year ago. Diluted earnings per share from continuing operations was INR 18.47 compared to INR 17.53 a year ago.
Sundram Fasteners Limited is an India-based company. The Company is engaged in the manufacture and sale of bolts and nuts, water and oil pumps, sintered products, cold extruded components, hot and warm forged parts, radiator caps and other parts, which have applications primarily in the automobile industry. The Company's product range includes high-tensile fasteners, powder metallurgy, cold extruded parts, hot forged, powertrain components, pumps and assemblies, iron powder, and radiator caps. Its high tensile fasteners product range includes wind energy fasteners and automotive fasteners, among others. Its cold extrusion product range includes gear blanks, transmission shafts, starter sleeves and pinions and fan hubs, among others. Its hot forged parts include connecting rods, crankshaft sprockets and stainless-steel turbocharger parts, among others. Its power train components include turbine shafts, output shafts and clutch hub, among others.