 Chennai:
The price revision with restrospective effect has given
the city-based fastener major, Sundram Fasteners Limited,
a major boost. The company for the nine months ended 31st
December 2004 has posted a turnover of Rs762.79 crore
and a net profit of Rs51.09 crore.
The
figures for the previous year''s corresponding period stands
at Rs447.86 crore and Rs39.79 crore. However, the figures
are not really comparable as the previous year''s figures
do not include the numbers relating to TVS Autolec Limited
that was amalgamated with Sundram Fasteners during the
last quarter of the previous fiscal but effective from
April 1, 2003.
During
the nine-month period under review, the company''s exports
were to Rs187.99 crore.
According
to the company the increased volumes helped it to manage
the further increase in the prices of steel and petro
products though the pressure is there on the operating
margins.
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