Upward price revision boosts Sundram Fasteners profit

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.