Leading Indian automotive component manufacturer for OEMs, Minda Corporation of Ashok Minda Group has posted six percent increase (year-on-year) in net profit margins in the third quarter ending December 31, 2017. From INR 21.3 crore in Q3 FY 2017, net profit has increased to INR 37.9 crore this financial year. Profit after tax, however, has come down to INR 42.1 crore from the last quarter.
The company manufactures aluminium die casted components for global automotive industry among other products and also offer end to end solutions.
{alcircleadd}
Source: Spark Minda
Minda Corp’s Q3 FY 2017-18 revenues have increased by 25.2 per cent y-o-y to INR 636.2 crore; but it is less than the Q2 revenues of INR 655 crore.
Earnings before interest, tax, deduction and amortization (EBITDA) increased by 45.8 per cent y-o-y to INR 71.7 crore last quarter. EBITDA margins increased to 11.3 per cent from 9.6 per cent in the corresponding period previous year. Minda Corporation board has announced an interim dividend of INR 0.25 per equity share (12.5 per cent of face value) for stakeholders.
The company recently inaugurated Spark Minda Technical Centre and Advanced Engineering Centre and its third zinc and aluminium die-casting plant in Pune.
Group CEO and chairman, Ashok Minda said: “We have been consistently striving towards growing our sales and enhancing profitability through various initiatives. We are pleased to announce a sustained strong financial performance during the third quarter of FY2017-18. The company continues to invest in technology leadership and creating a robust platform through SMIT to emerge as a System Solution provider in the growing automotive industry.”
Responses
