Moneycontrol
Aug 29, 2017 06:16 PM IST | Source: PTI

Minda Industries Q1 PAT up 85% at Rs 51.49 cr

The company had posted a consolidated profit after tax of Rs 27.83 crore in the same period of last fiscal, Minda Industries said in a BSE filing.

Minda Industries Q1 PAT up 85% at Rs 51.49 cr

Auto component maker Minda Industries today reported an 85 per cent jump in consolidated profit after tax at Rs 51.49 crore for the first quarter ended June 30, 2017.

The company had posted a consolidated profit after tax of Rs 27.83 crore in the same period of last fiscal, Minda Industries said in a BSE filing.

Revenue from operations during the quarter under review stood at Rs 1,022.54 crore as against Rs 810.69 crore, a growth of 26.13 per cent, it said.

In a separate filing, the company said its board has approved acquisition of 60 per cent stake of Japanese partner Tokai Rica Create Corporation (TRCC) in MI Torica India Pvt Ltd for a cash consideration of up to Rs 8.8 crore.

After the completion of the acquisition which is expected on or before March 31, 2018, MI Torica India will become a subsidiary, it added.

Last fiscal, MI Torica India had posted a revenue of Rs 198.62 crore.
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