Sona Comstar reports Q1 net profit of Rs 82 cr

Sona BLW Precision Forgings (Sona Comstar) on Friday reported a net profit of Rs 82.2 crore for the April-June quarter.
Its revenue from operations for the period under review stood at Rs 500.7 crore, up from Rs 153.36 crore earned during the first quarter of FY21.

The auto component maker reported its first earnings as a listed entity.

MD and Group CEO Vivek Vikram Singh said: "Despite headwinds, we have delivered robust revenue growth and best-in-class profitability and return metrics. We continue to make significant progress on our strategic imperatives of increasing electrification, global market share, diversification, and product innovation."

"Our net order book stands at Rs 14,000 crore as of June 30, 2021 of which 57 per cent is from EVs," Singh said.

In terms of product diversification, the company statement said that its journey from components to sub-systems and systems continues to progress, as revenue share of differential assemblies increased from 17.6 per cent in FY21 to 23.5 per cent in Q1 FY22.-IANS