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Minda Corp Q3 net up 78% at Rs 37.87 cr

twitter-logo PTI        Last Updated: February 14, 2018  | 13:42 IST

New Delhi, Feb 14 (PTI) Auto component maker Minda Corporation today reported 77.96 per cent jump in net profit at Rs 37.87 crore for the third quarter ended December 31, 2017.

The company had posted a consolidated net profit of Rs 21.28 crore in the same period last fiscal.

Revenue from operations rose to Rs 636.2 crore, from Rs 544.83 crore in the year-ago period, Minda Corporation said in a statement. The two figures are not comparable as after GST implementation, revenue from operations is net of GST, but earlier excise duty formed a part of expenses, the company said. The board has also declared an interim dividend of 25 paise per equity share of face value Rs 2, it added. Minda Corporation Chairman and Group CEO Ashok Minda said the company has been consistently striving towards growing sales and enhancing profitability through various initiatives.

"We now embark on the last quarter of FY2017-18, with motivation and optimism to end the year with strong growth momentum we have built and to capitalise upon the industry growth prospects that lie ahead of us,?? he added. Shares of the company were trading 3.26 per cent lower at Rs 204.95 apiece on BSE. PTI RKL ANS BJ

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