Sundaram Brake Linings’ Shocking 57.43% Profit Plunge in June 2024 Quarter – Capital Market News
Sundaram Brake Linings Reports 57.43% Drop in Net Profit for Q1 FY2024
Chennai, August 9, 2024 – Sundaram Brake Linings Ltd. experienced a significant decline in its financial performance for the quarter ending June 2024. The company’s net profit plunged by 57.43%, amounting to Rs 1.49 crore compared to Rs 3.50 crore during the same period in the previous year. Concurrently, sales dropped by 10.15%, falling to Rs 83.71 crore from Rs 93.17 crore in the quarter ending June 2023.
Key Financial Metrics (Q1 FY2024 vs. Q1 FY2023):
- Sales: Rs 83.71 crore (-10.15%)
- Operating Profit Margin (OPM): Decreased from 6.73% to 4.50%
- Profit Before Depreciation and Tax (PBDT): Rs 3.35 crore (-41%)
- Profit Before Tax (PBT): Rs 1.82 crore (-56%)
- Net Profit (NP): Rs 1.49 crore (-57.43%)
These financial results reflect a challenging quarter for Sundaram Brake Linings, highlighting a need for strategic adjustments to reverse the current downturn.
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First Published: Aug 09 2024 | 1:42 PM IST
Original Story https://www.business-standard.com/markets/capital-market-news/sundaram-brake-linings-standalone-net-profit-declines-57-43-in-the-june-2024-quarter-124080900572_1.html
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