Sona Koyo steering system Q2 net profit falls 22.3%

Resource from: ETAuto Likes:229

Nov 17,2015

It's consolidated net sales too decreased 3.2 percent to Rs. 387.18 crores in Q2 of FY16, down from Rs. 399.9 crores during the same period last year NEW DELHI: Sona Koyo Steering Systems, one of India's largest manufacturer and supplier of Steering Systems, reported a consolidated net profit of Rs 6.6 crore in the quarter ending September, which is 22.3 percent fall compared to Rs 8.5 crore in the same quarter last year. It's consolidated net sales too decreased 3.2 percent to Rs. 387.18 crores in Q2 of FY16, down from Rs. 399.9 crores during the same period last year. Its standalone profit, however, rose to Rs 5.2 crore, a 71.6 percent as compared to Rs 3 crore in the corresponding quarter FY15. Standalone net sales remained flat at Rs 270 crore, marginally up from Rs 267.6 crore. For the half year ended 30th September, consolidated profit after tax stood at Rs. 10.8 crores against profit of Rs 12.1 crores during the same period last year.

(ETAuto)

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