Sundram Fasteners Q3 net dips 16.8% to ₹103.34 crore
The Hindu
Costs of material consumed increased by 12%, while total expenditure by 14%, it said in a regulatory filing
Sundram Fasteners Ltd. (SFL) standalone net profit for the third quarter ended December fell 16.8% to ₹103.34 crore due to increase in commodity prices and logistics costs.
During the period under review, revenue from operations declined by 8.7% over the corresponding year-ago period to ₹1,024 crore. Costs of material consumed increased by 12%, while total expenditure by 14%, it said in a regulatory filing.
“The increase in commodity prices, as well as the costs of logistics and other inputs had a significant impact on the margins, which was mitigated through cost reduction measures and price support from the customers,” SFL said.
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