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Gurugram-based automotive technology company Sona BLW Precision Forgings Limited (Sona Comstar) on Friday reported a consolidated net profit of ₹82 crore in the first quarter ended June 30, a jump of 36.70 per cent on sequential basis, as compared to around ₹60 crore recorded in the fourth quarter last financial year.
The company had reported a net loss of ₹4.6 lakh in the April-June quarter last fiscal.
However, revenue from operations during the quarter declined by 7 per cent sequentially to ₹500 crore as against ₹539 crore in the January-March quarter.
But, on a year-on-year (YoY) basis, the revenue jumped over 223 per cent as compared with ₹155 crore in the April-June quarter 2020.
“Despite headwinds, we have delivered robust revenue growth and best-in-class profitability and return metrics. We continue to make significant progress on our strategic imperatives of increasing electrification, global market share, diversification, and product innovation. Our net order book stands at ₹14,000 crore as of June 30, of which 57 per cent is from EV,” Vivek Vikram Singh, Managing Director and Group Chief Executive Officer, said in a statement.
Shares of Sona BLW closed at ₹411.85 apiece on the BSE on Friday, up 0.55 per cent from the previous close.
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