The auto components maker reported a 1.9% year-on-year increase in consolidated net profit to ₹315.5 crore for the June quarter, from ₹309 crore a year earlier. Its revenue rose 23.8% to ₹5,556.9 crore from ₹4,489.1 crore in the corresponding quarter last year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 5.3% to ₹572 crore from ₹543 crore, while EBITDA margin narrowed to 10.3% from 12% a year ago.
The margin contraction came despite healthy topline growth, with operating expenses rising alongside revenue. Employee benefit expenses increased to ₹718.7 crore from ₹624 crore a year earlier, while other expenses climbed to ₹560.1 crore from ₹486 crore.
The company’s profit before tax, after accounting for the share of profit from associates and joint ventures, stood at ₹402.9 crore, compared with ₹399.1 crore in the corresponding quarter last year. Share of profit from associates and joint ventures increased marginally to ₹47.6 crore from ₹47.3 crore a year ago.
During the quarter, Uno Minda’s board also gave in-principle approval for the voluntary liquidation of Uno Minda Mobility Solutions Pvt. Ltd., its wholly owned subsidiary that currently has no operations.
Separately, after the end of the quarter, the company completed the acquisition of the remaining 19% stake held by Japan’s Onkyo Sound Corporation in Minda Onkyo India Pvt. Ltd. for an aggregate consideration of ₹1.02 crore, making it a wholly owned subsidiary.Shares of Uno Minda are trading 1.2% higher, having gained as much as 2.2% after the results announcement to make an intraday high of ₹1,243.9. The stock is still down 5% for the year and below its 52-week high of ₹1,382.
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