You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Minda Industries Q2 FY22 PAT spurts 13% to Rs 113 cr

Capital Market 

On a consolidated basis, Minda Industries' net profit jumped 13.41% to Rs 113.43 crore on a 29.51% surge in revenue from operations to Rs 2,113.99 crore in Q2 September 2021 over Q2 September 2020.

The board in-principally approved the corporate restructuring among Minda Delvis GmbH, Delvis Solutions GmbH, Delvis Products GmbH and iSYS RTS GmbH.

Additionally, Minda Industries (MIL) and TTE, Taiwan had entered into a joint venture agreement in April 2017 to manufacture 'rear parking assist system' in India and formed a joint venture company in the name of Minda TTE DAPS.

As per the company's exchange filing, it has been mutually decided by the partners to the aforesaid joint venture company to transfer the business of JV company to Minda Industries and /consequently the joint venture agreement and the JV company shall be ceased. The company does not hold any shares in the TTE DAPs. The company held 50% of the equity share capital in the joint venture company namely Minda TTE DAPS.

Shares of Minda Industries lost 0.57% to Rs 862.25 on BSE. Minda Industries is a flagship Company of UNO MINDA Group, which manufactures automobile components for original equipment manufacturers (OEMs).

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, November 11 2021. 15:40 IST