Sona Koyo Q3 PAT down 33%

Auto component-maker Sona Koyo Steering Systems today reported a 32.84% fall in consolidated profit after tax for the quarter ended December 31, 2011, to Rs 13.7 crore.

The company had posted a net profit of Rs 20.4 crore for the corresponding period last financial year, Sona Koyo Steering Systems said in a statement.

Its consolidated net sales also dipped by 5.77% to Rs 315.2 crore during the third quarter from Rs 334.5 crore in the year-ago period, it added.

Nevertheless, shares of the company were being quoted 2.22% higher at Rs 13.81 apiece during late afternoon on the BSE.