scorecardresearchSona BLW Precision Forgings Q2 consolidated net profit rises 5%

Sona BLW Precision Forgings Q2 consolidated net profit rises 5%

Updated: 29 Oct 2022, 09:42 AM IST
TL;DR.

Sona BLW Precision Forgings MD & Group CEO Vivek Vikram Singh said despite the macro headwinds and high material prices, the company delivered its highest quarterly revenue, EBITDA and net profit in the second quarter of FY23.

Indian rupee banknotes arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

Indian rupee banknotes arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

(PTI) Auto components maker Sona BLW Precision Forgings Ltd on Friday reported a 5 per cent rise in consolidated net profit at 92.55 crore in the second quarter ended September 30, 2022.

The company had posted a consolidated net profit of 88.23 crore in the same period last fiscal, it said in a regulatory filing.

Consolidated revenue from operations stood at 652.9 crore as against 577.05 crore in the year-ago period, it added.

Total expenses were higher at 538.91 crore as compared to 469.69 crore previous year.

Sona BLW Precision Forgings MD & Group CEO Vivek Vikram Singh said despite the macro headwinds and high material prices, the company delivered its highest quarterly revenue, EBITDA and net profit in the second quarter of FY23.

"We continue to progress on our key strategic priorities. Our net order book remains strong at 20,500 crore, of which EVs now contribute more than two-thirds," he added. 

First Published: 29 Oct 2022, 09:42 AM IST