The company said on Thursday that Sundram Fasteners is part of the TVS group of companies, and the company reported that its independent profit for the quarter ended September 30, 2021 was Rs 1,2016 crore.

The company said on Thursday that Sundram Fasteners is part of the TVS group of companies, and the company reported that its independent profit for the quarter ended September 30, 2021 was Rs 1,2016 crore.

This Chennai-based company is engaged in the manufacturing and sales of bolts and nuts, water pumps and oil pumps, hot forgings and warm forgings. The independent net income of the same period last year was 97.36 crore.

For the six-month period ending September 30, 2021, the company reported independent profits of Rs 232.71 crore, compared with Rs 73.88 crore in the same period last year.

The total independent revenue for the quarter increased to 1,064.29 crore from 773.36 crore in the same period last year.

For the half-year period ending September 30, 2021, total independent income was Rs 2,012.64 crore, compared to Rs 1,057.73 crore in the same period of the previous fiscal year.

The company said in a statement that domestic sales for the quarter were 663.26 crore, compared with 483.88 crore in the same period last year, an increase of 37.1%.

Export sales for the quarter ended September 30, 2021 were Rs 362.80 crore, compared to Rs 260.28 crore in the same period, an increase of 39.4%.

The press release stated that the company's "export sales" continued to maintain strong growth.

In the quarter ended September 30, 2021, unfavorable commodity prices and increased other input and logistics costs due to rising oil prices affected profit margins.

However, it added that through cost reduction measures and customer price support, the same impact has been alleviated. 

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