Minda Corporation Sees Robust 27% Q4 Profit Growth

Minda Corporation reported a 27% surge in its Q4 profit to Rs 71 crore for March 2024. The company’s operating revenue also rose to Rs 1,215 crore. For the full fiscal year, PAT increased by 4% to Rs 227 crore, highlighting strong performance and commitment to innovation and sustainability.

Auto components maker Minda Corporation on Wednesday said its profit after tax increased 27 per cent to Rs 71 crore in the fourth quarter ended March 2024.

The company had reported a profit after tax (PAT) of Rs 56 crore in the year-ago period.

Operating revenue increased to Rs 1,215 crore in the fourth quarter as against Rs 1,075 crore in the year-ago period, Minda Corp said in a statement.

For the year ended March 2024, the company posted a PAT of Rs 227 crore, an increase of 4 per cent as compared to Rs 219 crore in FY23.

Operating revenue rose to Rs 4,651 crore as compared to Rs 4,300 crore in 2022-23 fiscal.

''Our resilient performance this year underlines our commitment to sustainable business practices and innovation. Achieving record revenue and robust growth reflects our focus on premiumisation and transformation,'' Minda Corp Chairman and Group CEO Ashok Minda said.

As one of the leading players in smart mobility space, the company's expanding EV order books, investments in advanced technologies and sustainable solutions reaffirms commitment to driving sustainable growth, he added.

The company said its board has approved a final dividend of 45 per cent at Rs 0.90 per share.

Shares of the company on Wednesday ended 0.21 per cent up at Rs 426 apiece on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)