Auto component maker Minda Industries today reported 77.61 per cent jump in consolidated net profit after tax to Rs 66.82 crore for the second quarter ended September 30.
Revenue from operations during the quarter under review was up 12.22 per cent at Rs 1,098.35 crore as against Rs 978.68 crore in the corresponding quarter last fiscal.
The company's total expenses in Q2 FY 2017-18 stood at Rs 1,006.31 crore, up 8.43 per cent, as against Rs 927.99 crore.
Meanwhile, in a separate filing Minda Industries informed that the board of directors in its meeting held today approved purchase of 49 per cent shares of Fujitsu Ten Minda Private Limited (F Ten Minda) and 51 per cent shares of Minda F Ten Private Limited (Minda F Ten) from group companies.
F Ten Minda is engaged in business development and manufacturing of car infotainment system and had a revenue of Rs 308 crore in FY17.
"The total purchase consideration for both the companies will be Rs 26.03 crore," it added.
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