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Sona Koyo Steering Systems has posted a 34 per cent (Rs 16 crore) rise in its standalone net profit for the fourth quarter ended March 31, 2012, on the back of strong demand from automakers in the period.
Net sales for the company in the quarter on a standalone basis was up 18.5 per cent at Rs 346 crore.
For the full year 2011-12, consolidated profits were up 9 per cent to Rs 49 crore, while net sales for the fiscal were up 18 per cent to Rs 1,414 crore.
The company, which has a 45 per cent market share in steering system supplies, is a joint venture between the Sona Group and JTEKT Corporation of Japan (formerly Koyo Seiko). Major clients include Maruti Suzuki and Tata Motors.
Sona Koyo shares at the BSE were down 1.85 per cent to Rs 13.26 on Tuesday.
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