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NT Bureau
Chennai, Jan 31:

        Sundram Fasteners Limited has recorded an increase of sales on export front by 18 per cent for the nine months period ended 31 December, 2006 to Rs 275.31 crore as against Rs 233.33 crore during the same period in the previous year.

        According to Sundram Fasteners Ltd chairman and managing director Suresh Krishna, the company's domestic sales, net of excise duties increased to Rs 633.36 crore (Rs 547.74 crore), an increase of 16 per cent while total sales and other income for the period increased to Rs 909.98 crore as against Rs 781.86 crores achieved during the same period in the previous year. The higher volume of sales, both domestic and exports, resulted in improved operating profits.

        Gross profit before interest, depreciation and provision for taxation increased by over 32 per cent to Rs 145.23 crore during the period (Rs 110.26 crore), an increase of Rs. 34.97 crore. Operating expenses were at Rs 764.75 crores (Rs 671.60 crore). Interest and financial charges was Rs 26.97 crore (Rs 25.19 crore).

        Depreciation for the nine months stood at Rs 22.55 crore (Rs 20.19 crore).The net profit was higher at Rs 64.40 crore (Rs 43.08 crore). The provision for taxes, inclusive of Fringe Benefit Tax and deferred tax, was at Rs 31.31 crore (Rs 21.80 crore).