Sundaram Clayton Limited (SCL) has reported a standalone net profit of ₹28 crore for the first quarter.
The company posted a net profit of ₹1,501 crore in the year-ago period which included a one-time profit of ₹1,489 crore from the sale of 5.14% stake in TVS Motor Company.
Revenue from operations increased by 36% to ₹512 crore. Material cost increased by 47% to ₹290 crore, it said in a regulatory filing.
During the quarter, the standalone net profit included an exceptional item of ₹16 crore (interest income of ₹23 crore and voluntary separation cost of ₹7 crore).
The board on Friday Gopalan as Additional Director and Chairman with immediate effect, subject to the approval of the shareholders.