Minda Corporation posts consolidated loss after tax of Rs 300 cr in Q4

Auto components maker Minda Corporation Ltd on Wednesday reported a consolidated loss after tax of Rs 299.77 crore in the fourth quarter ended March 31, on account of impairment charges of one of its arms that has filed for insolvency.

The company had posted a consolidated profit after tax of Rs 41.92 crore in the corresponding period of the previous financial year, Minda Corporation said in a regulatory filing.

The company said its board of directors on Wednesday decided to withdraw financial support to its wholly-owned subsidiary Minda KTSN Plastic Solutions GmbH Co & KG, Germany (MKTSN), pursuant to which MKTSN has