Sundram Fasteners Q3 profit rises 21% to INR 124 crore

 Auto component maker Sundram Fasteners has reported 20.6% rise in its standalone net profit to INR 124.24 crore for the quarter ended December 31, 2020.

The Chennai-based TVS Group company had posted a net profit of INR 103.06 crore during the corresponding quarter a year ago, Sundram Fasteners said in a regulatory filing.

Domestic sales for the quarter under review were at INR 637.01 crore against INR 446.05 crore during the previous year on the back of an increase in demand.

The company's EBITDA for the quarter to December 31, 2020, stood at INR 205.85 crore against INR 124.54 crore in the same quarter a year ago.

Meanwhile, Sundram Fasteners has re-appointed Arathi Krishna as managing director for five years, effective May 3, 2021. According to the company, Arathi was first appointed as managing director (designated as executive director) from May 3, 2006. She was re-appointed as managing director (designated as joint managing director) from May 3, 2011, and subsequently re-appointed for five years with effect from May 3, 2016. She was re-designated as the managing director of the company effective April 20, 2018.

She has expertise in general management, marketing, sales, project management, risk management and human resources, the company said.