Sundaram-Clayton Ltd. (SCL) consolidated net loss for the quarter ended March reduced to ₹47 crore from ₹63 crore sequentially.
Revenue from operations slid by ₹9 crore to ₹555 crore, while materials costs rose by ₹32 crore to ₹322 crore.
As per the arrangement approved by NCLT Chennai Bench, TVS Holdings Ltd.’s manufacturing business along with assets and liabilities was de-merged, transferred and vested into SCL from August 11, 2023. Hence results for March 2024 begins August 11, 2023.
During the quarter, the company invested ₹41.53 crore in its overseas subsidiary Sundaram Holding USA Inc.
It also declared an interim dividend of ₹5.15 per share.
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