Minda Corp. Q2 net up 8% to Rs42 crore
New Delhi: Auto component maker Minda Corp. has reported a 7.9% increase in its net profit at Rs42.1 crore for the September quarter of the current fiscal.
The company had posted a net profit of Rs39 crore during the same period of the previous fiscal, Minda Corporation said in a statement.
Revenue during the period increased 10.9% to Rs655 crore from Rs590.8 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,” Minda Corp. chairman and Group chief executive officer (CEO) Ashok Minda said.
The company’s stock closed 7.94% up at Rs154.95 apiece on BSE on Monday.