Moneycontrol
Sep 14, 2017 03:59 PM IST | Source: PTI

Minda Corporation Q1 net profit down 10% at Rs 23 cr

The company had posted a net profit of Rs 25.5 crore during the same period previous fiscal, Minda Corporation said in a statement.

Minda Corporation Q1 net profit down 10% at Rs 23 cr

Auto component maker Minda Corporation today reported a 9.8 per cent decline in its consolidated net profit to Rs 23 crore for the June quarter.

The company had posted a net profit of Rs 25.5 crore during the same period previous fiscal, Minda Corporation said in a statement.

Revenue from operations in the quarter grew 19.2 per cent to Rs 62.33 crore as against Rs 52.28 crore in the year-ago period.

"The growth in revenues was on account of significant increase in sales across business systems," Minda Corporation Chairman and Group CEO Ashok Minda said.

The company is a flagship of Spark Minda and has a diversified automotive product portfolio catering to two and three wheelers, passenger vehicles and commercial vehicles.

The stock was trading 1.06 per cent up at Rs 133.80 on BSE.
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