Business   

Sundram Fasteners sales up

Sundram Fasteners recorded total sales of Rs. 290.07 crores for the half year ended September 30, 2003 against Rs. 247.33 crores in the same period in the previous year, an increase of 17 per cent.

The gross profit before depreciation and interest charges was up by 11 per cent to Rs. 47.35 crores from Rs. 42.76 crores. Depreciation claims Rs. 6.88 crores (Rs. 6.35 crores) and taxation Rs. 13.31 crores (Rs. 10.21 crores). The net profit was up by 28 per cent at Rs. 27.76 crores against Rs. 21.75 crores. The directors have decided to sub-divide the present equity share of Rs. 101 each to 10 equity shares of Re.1 each and amalgamate TVS Autolec with the company by allotting 10 equity shares of Re. 1 each for every 6.4 shares of Rs. 10 each of TVS Autolec.

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