Sundram Sales Dip in Late 2008
February 02
00:00
2009
Sundram Sales Dip in Late 2008
Jason Sandefur
India-based Sundram Fasteners Ltd. reported sales dropped 3.6% to RS 2.86 crore (US$58.75 million) during the third quarter of fiscal 2009, with profit plunging to RS 64 lakhs vs 18.04 crore during the third quarter of the previous year.
Overall sales during the first nine months of fiscal 2009 rose 16% to RS 1,039.7 crore, while net profit plummeted 64% to RS 22.66 crore.
Nine-month export sales increased 41% to RS 353.77 crore despite a week global automotive industry.
Domestic sales improved 6% to RS 684.51 crore during the period. Web: sundram.com �2009 FastenerNews.com
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