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Wednesday, May 17, 2017

Minda Industries Q4 cons net up 36% at Rs 142.58 cr

Minda Industries, a supplier of automotive solutions to original equipment manufacturers, on Tuesday reported a growth of 35.79 per cent in its consolidated net profit at Rs 142.58 crore in the fourth quarter ended March 31, 2017. “The Ashok Minda Group company had posted consolidated net profit of Rs 42.55 crore during the corresponding quarter of the previous year,” said Minda Industries in a filing to the Bombay Stock Exchange. The consolidated net revenue of company rose by 32.31 per cent to Rs 951.52 crore in Q4 FY17 from Rs 719.15 crore in Q4 FY17. For FY 2016-17, the company has posted consolidated net profit of Rs 168.08 crore against net revenue of Rs 3518.90 crore. The company in a separate release said that its board has recommended a final dividend of Rs 1 per equity share of Rs 2 each i.e. 50 per cent to the equity shareholders for the year ended on 31 March, 2017, subject to approval by the shareholders. Meanwhile, shares of company were trading at Rs 552.65 apiece, up 6.65 per cent, from the previous close on the BSE at 14:55 hour.