Sundram Fasteners net up to Rs.211 crore

Chennai, May 20 (IANS) Automobile components maker Sundram Fasteners Ltd said on Friday that it closed last fiscal with an increased net profit of Rs.211.17 crore on a revenue of Rs.2,641.38 crore.

In a statement issued here, Sundram Fasteners said it logged a total revenue of Rs.2,641.38 crore last fiscal as against Rs.2,409.75 crore earned during 2014-15.

The net profit for the period under review stands at Rs.211.17 crore up from Rs.135.32 crore posted during 2014-15.

Sundram Fasteners said it saw a sharp growth in the aftermarket sales last year and also strong demand for its hot forged parts, power train components and wind energy fasteners.

The Chinese subsidiary Sundram Fasteners (Zhejiang) Limited and Britain subsidiary Cramlington Precision Forge Limited have become subsidiaries of Sundram International.

As a part of restructuring, the company divested the German subsidiaries, Peiner Umformtechnik and its affiliates.



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