New Delhi: Auto component maker Minda Corporation has reported a 7.9 per cent increase in its net profit at Rs 42.1 crore for the September quarter of the current fiscal.
Revenue during the period increased 10.9 per cent to Rs 655 crore from Rs 590.8 crore in the year ago quarter.
“During the previous quarter, we have seen a positive movement towards a more stabilised GST regime resulting in steady growth of business. The company has reported an improved financial performance during the quarter as well as half year ended September 2017. During the first half FY2017-18, sales grew by 14.8 and EBITDA margins stood at 9.3%.
Other highlights of the quarter includes strong order wins. We received a total Rs. 1.2 billion of orders (lifetime value) across domestic businesses and exports. We continue our focussed investment approach towards new projects and R&D, thus making our business future ready,” Minda Corporation Chairman and Group CEO Ashok Minda said.
The company’s stock closed 7.94 per cent up at Rs 154.95 apiece on BSE today.
PTI
Minda Corporation Q2 net up 8% to Rs 42 cr
