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Our Bureau

Chennai , Oct. 28

Sundram Fasteners has reported a net profit of Rs 25.44 crore for the quarter-ended September, against Rs 13.72 crore for the corresponding quarter of last year, an increase of 85 per cent.

This increase has come mainly on account of 18 per cent increase in sales. Sales for the quarter increased to Rs 312.9 crore from Rs 263.59 crore in the same quarter last year. "Higher sales, both domestic and exports, resulted in improved operating profits," notes a company press release. For the first six months of the current year, Sundram Fasteners recorded sales of Rs 605.02 crore against Rs 516.50 crore in the comparable period of last year. Net profit was higher at Rs 43.46 crore against Rs 31.06 crore, previously.

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