Minda Industries Q4 net up 64.47% y-o-y

The company had a net profit of Rs 2.73 crore in the quarter ended March 31, 2007, the company said in a statement here.

The total income, however, slipped by 17.84 per cent to Rs 103 crore in the fourth quarter as against Rs 125.36 crore during the year-ago period, it added.

Minda Industries' audited net profit during 2007-08 increased to Rs 15.72 crore from Rs 13.54 crore in the previous fiscal, up 16.17 per cent.

The company's total audited income in FY08 rose by 4.15 per cent at Rs 410.20 crore, compared to Rs 393.87 crore in the last financial year, the statement said.

"The last year was a tough one for the entire auto sector and we were not an exception. We were able to maintain our topline, the profitability has increased due to various cost cutting measures and increased thrust on productivity," Minda Industries managing director N K Minda said.

Due to the increasing cost of raw materials, coupled with high oil prices, the current year would be more challenging, he added.