Boosted by a strong growth in auto sales, component maker Sona Koyo Steering Systems announced an 82 per cent rise in net profits to Rs 12.56 crore for the third quarter ending December 31, 2010. Net sales in the quarter for the Gurgaon-based company rose 23 per cent to Rs 272.80 crore.
Sona Koyo has a technical and financial collaboration with JTEKT Corporation, Japan, and is the flagship of the Sona Group. It has a 45 per cent domestic market share in the supply of steering gears, columns and RPS assemblies to almost all passenger car and utility vehicle manufacturers.