Minda Corp reports Q2 revenue of Rs 655 crore an increase of 10.9 percent YoY, PAT improves 6.4 percent at Rs 42 crore.
13 Nov 2017 | 19051 Views | By Autocar Pro News Desk
Component maker Minda Corporation, the flagship company of the Spark Minda, Ashok Minda Group, has reported a Q2 FY2017-18 revenue of Rs 655 crore, an increase of 10.9 percent compared to the same period last year.
For July-September, 2017 the EBITDA margin increased 11.5 percent to Rs 75 crore ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
Component maker Minda Corporation, the flagship company of the Spark Minda, Ashok Minda Group, has reported a Q2 FY2017-18 revenue of Rs 655 crore, an increase of 10.9 percent compared to the same period last year.
For July-September, 2017 the EBITDA margin increased 11.5 percent to Rs 75 crore YoY, and profit after tax (PAT) was Rs 42 crore (Q2 FY2017: Rs 39 crore), an increase of 6.4 percent. Its H1 FY2018 revenue rose 14.8 percent to Rs 1,278.3 crore (HY FY2017: Rs 1,113 crore), while PAT grew 0.9 percent to Rs 65 crore (H1 FY2017: Rs 64 crore).
The company says the half-year PAT is lower due to a drop in revenue from other income. It added that its new die casting plant in Pune has begun commercial operations during the quarter.
Ashok Minda, chairman and group CEO, said: “During the previous quarter, we have seen a positive movement towards a more stabilised GST regime resulting in steady growth of business. The company has reported an improved financial performance during the quarter as well as half-year ended September 2017. During H1 FY2017-18, sales grew by 14.8 percent and EBITDA margins stood at 9.3 percent.”
He added, “Other highlights of the quarter includes strong order wins. We received a total Rs 120 crore of orders (lifetime value) across domestic businesses and exports. We continue our focussed investment approach towards new projects and R&D, thus making our business future-ready.”