Sona Koyo Steering Systems Ltd on Friday reported a nearly two fold increase in its net profit for the third quarter ended December 31, 2010 at Rs 12.56 crore as against Rs Rs 6.89 crore recorded during the corresponding period of the previous year.

Net sales have during the current quarter grew by 23.32 per cent to Rs 272.8 crore from Rs 221.21 crore in the same period a year ago. The shares were trading at Rs 16.60 per share on the BSE, down 2.35 per cent from the previous close.

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