Minda Industries Posts Over Two-Fold Jump In Q4 Profit

New Delhi: Auto components manufacturer Minda Industries on Monday reported an over two-fold rise in consolidated net profit at Rs 42.55 crore for the fourth quarter that ended on March 31, 2016.

The company had registered a net profit of Rs 15.11 crore for the corresponding period a year ago.

Net sales of the company rose to Rs 709.51 crore for the fourth quarter of last fiscal year, as compared to Rs 538.76 crore in the year-ago period, Minda Industries said in a filing to the BSE.

For the entire fiscal year 2015-16, the company posted a net profit of Rs 111.13 crore as compared to Rs 67.96 crore for the previous fiscal year.

Net sales rose to Rs 2,506.15 crore for the fiscal year, as against Rs 2,205.77 crore in 2014-15.

"This growth has been on account of strong performance of the standalone entity and backed by improved performance of its subsidiaries including turnaround of certain loss making subsidiaries. Group consolidation has also been an enabler in achieving these number," the company said.

The company's board, which met on Monday, approved a final dividend of Rs 4 per share (40 per cent) on face value of Rs 10 per share.

Shares in Minda Industries, on Monday, ended 3.6 per cent higher at Rs 1,151.25 apiece on the BSE, whose benchmark Sensex index finished down 0.28 per cent.