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Mumbai, Jan 25

Clutch manufacturers Setco Automotives posted a 9.1 per cent rise in the net profit during the third quarter. The profit increased to Rs 3.37 crore from Rs 3.09 crore for the corresponding period last year. For the three-month period, the company recorded a turnover of Rs 35.32 crore, an increase of 8.6 per cent compared to Rs 32.52 crore in the same quarter in the last year. Setco formed a joint venture with German-based FTE Automotive to make clutch actuation systems. Th e company has announced plans to set up a manufacturing unit in Uttarakhand to cater to the after-market segment.

– Our Bureau

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