Sona Comstar's Q2 Surge: Profit Up by 16%, Strategy in Motion

Sona Comstar reported a 16% increase in consolidated PAT at Rs 143.57 crore for Q2 ending September 2024. The company's Q2 revenue rose 17% to Rs 922.18 crore, with significant growth in BEV revenue. A new acquisition deal with Escorts Kubota was also announced.

Sona BLW Precision Forgings, also known as Sona Comstar, reported a notable financial performance for the quarter ending September 30, 2024. The company achieved a 16% year-on-year increase in consolidated Profit After Tax (PAT), amounting to Rs 143.57 crore.

In comparison, the company recorded a net profit of Rs 124.06 crore in the second quarter of FY24. Their revenue from operations rose to Rs 922.18 crore, marking a 17% growth from the same period in the previous fiscal year. Notably, revenues from Battery Electric Vehicles (BEVs) constituted 36% of the total revenue, with BEV revenue growing by 53% year-on-year.

Furthermore, Sona Comstar announced a major acquisition: the Railway Equipment Division of Escorts Kubota Ltd (EKL), valued at Rs 1,600 crore. This move is aligned with the company's strategic priorities as articulated by Vivek Vikram Singh, Managing Director and Group CEO.

(With inputs from agencies.)