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Sundram Fasteners net declines
Special Correspondent
CHENNAI:
Sundram Fasteners Ltd. (SFL) has reported a net profit of Rs. 43.08 crore for the nine-month period ended December 2005, down from Rs. 51.09 crore in the same period last year.
The company has reported sales of Rs. 872.74 crore (Rs. 762.79crore). Export sales have registered a 24 per cent growth at Rs. 233.33 crore (Rs. 187.99 crore).
The gross profit before interest and foreign exchange fluctuation, depreciation and provision for taxation stands at Rs. 110.26 crore (Rs. 99.27 crore).
Interest expense is placed at Rs.11.87 crore (Rs. 5.64 crore) due to an all-round increase in interest rates and higher borrowing.
Exchange loss on foreign currency loans is placed at Rs. 13.32 crore as against a gain of Rs. 2.67 crore in the same period last year, says a release from the company.
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