Commercial vehicle maker Swaraj Mazda today reported an over two-fold jump in its net profit for the quarter ended September 30 to Rs 9.30 crore.
The company had posted a net profit of Rs 4.60 crore in the corresponding period last year, Swaraj Mazda said in a filing to the Bombay Stock Exchange (BSE).
The total income from operations during the second quarter also increased by 25.82 per cent to Rs 195.40 crore from Rs 155.30 crore in the year-ago period, it added.
"Volume growth, better product-mix and substantial reduction in interest burden have been the key drivers for this financial performance," the company said.
The filing further said revenue and profit could have been "significantly higher" had there been no loss of production due to shortages of components.
Reacting to the results, the shares of the company moved 5.46 per cent up during afternoon and were trading at Rs 372 on the BSE.
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