Minda Corp revenues up 21% at Rs 769 crore in Q3 FY19

Leading auto component manufacturer Minda Corporation has reported revenues of Rs 769 crore during October to December 2018, marking a jump of 21 per cent in the year-on period.

In a listing to stock exchanges, the company said its net profit totalled Rs 46.2 crore, up nearly 6 per cent from the third quarter of 2017-18.

The EBITDA (earnings before interest, tax, depreciation and amortisation) stood at Rs 54.8 crore, over 7 per cent in the corresponding period.

The company announced an interim dividend of 12.5 per cent, that is Rs 0.25 per share.

Minda Corp, the flagship company of Spark Minda, said equity holding of Minda Furukawa Electric Pvt Ltd has been restructured and equity stake of Minda Corp reduced from 51 per cent to 25 per cent. The stake sale fetched Rs 17.5 crore.

Minda Corporation has a diversified product portfolio that encompasses safety, security and restraint systems; driver information and telematics systems and interior systems for auto original equipment manufacturers (OEMs). These products cater to two and three wheelers, passenger vehicles, commercial vehicles and after-market.

The company has 34 state-of-the-art manufacturing facilities to serve a diversified customer base including Indian and global OEMs and tier-1 customers for various vehicle segments spread across Europe, North and South America, and Asia.