Minda Q3 profit up 55% at Rs 45 cr

Auto components manufacturer Minda Industries today posted 55 per cent rise in profit after tax at Rs 44.73 crore for the third quarter ended December 31.
The company had reported a profit after tax (PAT) of Rs 28.85 crore in the year-ago period.
The consolidated revenue of the company rose to Rs 885 crore in the third quarter as compared to Rs 626 crore in the same period of previous fiscal, Minda Industries said in a statement.
The company's board, in a meeting today, announced an interim dividend of 60 per cent of face value (Rs 2 per share), which corresponds to Rs 1.20 per share.

Mind Kosei, a JV with Japan's Kosei Aluminum Co, has earmarked Rs 300 crore to to set up a new plant in Gujarat for manufacturing alloy wheels. The plant will have a capacity of 1,20,000 wheels per month in the first phase.
Shares of Minda today ended 1.03 per cent down at Rs 380.95 apiece on BSE.