Sundram Fasteners Ltd., a part of the TVS Group, has reported a standalone net loss of ₹23.48 crore for the first quarter ended June against a net profit of ₹93 crore in the year-earlier period.
Revenue from operations plunged to ₹277 crore from ₹945 crore. Export sales dropped to ₹135 crore from ₹348 crore.
The company recorded positive earnings before depreciation and taxes (EBDT) despite challenging market conditions due to stringent cost control measures. EBDT stood at ₹5 crore (₹167 crore).
The company had donated ₹3 crore to the Tamil Nadu Chief Minister’s Public Relief Fund to support the nation’s fight against the coronavirus pandemic.