Sundram Fasteners April-June net falls on forex loss

Newswire

(Adds details, share price) MUMBAI, July 30 (Reuters) - Auto parts maker Sundram Fasteners Ltd on Wednesday posted a 50 percent fall in April-June profit, despite higher sales, hurt mainly by a mark to market loss. The company, part of auto and financial services focused TVS Group, posted a net profit of 128.6 million rupees, compared with 255.5 million rupees in the same period last year. Net sales rose to 3.6 billion rupees from about 3 billion rupees, helped by rising exports and ...

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