Sona BLW Profit Up 24% to Rs 133 Crore in Q3

Mumbai, Jan 23 (PTI) Mobility tech firm Sona BLW Precision Forgings (Sona Comstar) on Tuesday reported a 24 per cent year-on-year growth in consolidated profit after tax at Rs 133 crore in the three months ended December 2023.

The company had recorded a consolidated profit after tax of Rs 107.10 crore in the December quarter of FY23, it said.

Total income in the third quarter of the current fiscal was Rs 777 crore as against Rs 685 crore reported in the year-ago period, a growth of 13 per cent, according to the company.

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) for Q3FY24 stood at Rs 227.3 crore, a growth of 22 per cent compared to Rs 186.2 crore in the same quarter last fiscal, it said.

The company also said that with five new BEV (Battery Electric Vehicle) programme wins, the net order book has increased to the highest ever level of Rs 24,000 crore.

"We delivered our highest quarterly EBITDA, net profit, BEV revenue, BEV revenue share and order book in Q3 FY24.

"Our BEV revenue was higher by 28 per cent y-o-y, representing 30 per cent of overall revenues," Vivek Vikram Singh, MD and CEO at Sona BLW Precision Forgings Ltd, said in a statement.

The last quarter was one of the best quarters for business development, he said, adding with five new BEV programme wins, "we closed last quarter with an all-time high net order book."

Three of the new BEV programmes are for three innovative and unique powertrain solutions.

"Based on customer schedules and our strong order book, we are certain that electrification will continue to drive strong growth for us in the immediate, medium, and long term," he said.