Uno Minda Q1 Profit Up 17% to Rs 210.8 cr - Business News

New Delhi, Aug 7 (PTI) Auto components maker Uno Minda Ltd on Wednesday reported a 17 per cent rise in consolidated profit after tax at Rs 210.8 crore in the first quarter ended June 30, 2024.

The company had posted a consolidated profit after tax of Rs 180.17 crore in the same quarter of the previous fiscal, Uno Minda said in a regulatory filing.

Consolidated revenue from operations in the first quarter stood at Rs 3,817.51 crore, as against Rs 3,092.66 crore in the year-ago period, it added.

Total expenses in the quarter were higher at Rs 3,587.78 crore, as compared to Rs 2,906.79 crore in the same period a year ago.

The growth in the quarter was driven by all product segments especially led by lighting, alloy wheels, switches, sensors and controllers, the company said.

"Our journey towards becoming a global automotive technology leader continues to gain momentum as we deliver yet another quarter of robust performance, reinforced by our commitment towards innovation and customer satisfaction," Uno Minda Group Chairman and MD Nirmal K Minda said.

The company said its board has approved investment of Rs 62.69 crore for setting up a greenfield sunroof manufacturing facility at Bawal. The plant is expected to start commercial production by Q4 FY27.