The Hindu Business Line
Sundaram Clayton net rises 73% on higher exports
Edited by : AL CIRCLE
1 min read
Buoyed by increase in volume of business from the export markets, aluminium die-castings manufacturer Sundaram Clayton has posted a 73 per cent year-on-year increase in second quarter net profit at Rs 16.39 crore. Net sales for the quarter rose 27 per cent to Rs 240.79 crore, over the corresponding period last year.
Exports – mainly from North America and Europe – contributed around 38 per cent of sales this quarter – this is 56 per cent more than export sales the same quarter last year, said Mr H. Lakshmanan, Executive Director, Sundaram Clayton.
The company exports castings for higher tonnage commercial vehicles to Cummins group and Volvo. “Although the auto industry (particularly cars) in North America and Europe is down, this particular class of vehicles is doing significantly well.”
The company had higher depreciation this quarter at Rs 12.69 crore (Rs 10.18 crore), due to “capital intensive” nature of the die-casting business, said Mr Lakshmanan.
Exports – mainly from North America and Europe – contributed around 38 per cent of sales this quarter – this is 56 per cent more than export sales the same quarter last year, said Mr H. Lakshmanan, Executive Director, Sundaram Clayton.
The company exports castings for higher tonnage commercial vehicles to Cummins group and Volvo. “Although the auto industry (particularly cars) in North America and Europe is down, this particular class of vehicles is doing significantly well.”
The company had higher depreciation this quarter at Rs 12.69 crore (Rs 10.18 crore), due to “capital intensive” nature of the die-casting business, said Mr Lakshmanan.
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