Sundram Fasteners Accelerates Growth with Impressive Profit Surge

Sundram Fasteners Ltd reported a significant rise in consolidated profits for Q2 2024, with a total income increase and capital investments aimed at expanding its electric and hybrid vehicle sectors. The company declared a 300% interim dividend for the financial year 2024-25.

Sundram Fasteners Ltd has reported a substantial increase in consolidated profits for the second quarter ending September 30, 2024, climbing to Rs 143.84 crore from Rs 133.05 crore in the same quarter last year.

The auto-component maker's total income for the quarter surged to Rs 1,499.07 crore, reflecting a robust market performance driven by solid domestic and overseas sales.

Significant capital investment of Rs 238.25 crore during the half-year period aims to bolster the company's foothold in the electric and hybrid vehicle sectors, while a 300% interim dividend underscores its financial strength and commitment to shareholders.

(With inputs from agencies.)