Latest News | Sona Comstar Reports Net Profit of Rs 82 Cr in Q1

New Delhi, Aug 6 (PTI) Auto components maker Sona BLW Precision Forgings (Sona Comstar) on Friday reported a consolidated net profit of Rs 82 crore for the first quarter ended on June 30.

Also Read | Samsung Galaxy Z Flip 3 & Galaxy Z Fold 3 Pre-Booking Now Open in India: Report.

This is the company's first announcement of quarterly results as a listed entity.

Also Read | Tesla To Reportedly Supply Full Energy Ecosystem for Luxury Homes.

The company posted revenues of Rs 501 crore for the first quarter.

"We are delighted to report a strong performance in our first earnings announcement as a listed entity. Despite headwinds, we have delivered robust revenue growth and best-in-class profitability and return metrics," Sona BLW Precision Forgings MD & Group CEO Vivek Vikram Singh said in a statement.

The company continues to make significant progress on its strategic imperatives of increasing electrification, global market share, diversification, and product innovation, he added.

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

The Gururgam-headquartered company listed on NSE and BSE on June 24, 2021. It is a global supplier with nine manufacturing and assembly facilities across India, the US, Mexico and China.

Shares of the company ended 0.55 per cent up at Rs 411.85 apiece on the BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)