Sona Comstar Q2 results: Net profit increases 16% to Rs 143.57 crore

Auto components maker Sona BLW Precision Forgings (Sona Comstar) on Wednesday reported a 16 per cent year-on-year growth in consolidated Profit After Tax (PAT) at Rs 143.57-crore for the quarter ended September 30, 2024.

The company had posted a net profit of Rs 124.06 crore in the second quarter of FY24, according to a regulatory filing.

Revenue from operations for the quarter under review was Rs 922.18 crore, up 17 per cent from Rs 787.46 crore during Q2FY23, as per the filing.

Revenue share from Battery Electric Vehicles (BEV) stood at 36 per cent, while the BEV revenue grew 53 per cent year-on-year during the July-September period of the current fiscal, it said.

It also said that the net order book stood at Rs 23,100 crore as of September 30, 2024.

"We have continued to progress on all our key strategic priorities," said Vivek Vikram Singh, Managing Director and Group CEO at Sona BLW Precision Forgings.

Sona Comstar also announced a signing pact with Escorts Kubota Ltd (EKL) to acquire the Railway Equipment Division of EKL (RED), as a going concern, on a slump sale basis, for an enterprise value of Rs 1,600 crore, subject to the terms of the agreement.