Minda Corporation, a leading auto component manufacturer, has announced its financial results for the first quarter of FY25, posting a significant 42% year-on-year (YoY) growth in net profit. The company’s net profit stood at Rs 126.4 crore in Q1 FY25, compared to Rs 89.1 crore in the same quarter of the previous financial year.
Minda Corporation’s revenue also witnessed a substantial growth, rising 31.5% YoY to Rs 2,433.8 crore in Q1 FY25. The company’s operating profit margin (OPM) expanded by 120 basis points to 12.1% in Q1 FY25, driven by improved operational efficiency and cost optimization.
The company’s strong performance can be attributed to its diversified product portfolio, which includes automotive lighting, electrical, and mechanical products. Minda Corporation has also been focusing on expanding its presence in the electric vehicle (EV) segment, which is expected to drive future growth.
Ashok Minda, Chairman and Group CEO, Minda Corporation, expressed optimism about the company’s future prospects, citing the growing demand for auto components and the company’s strong order book. The company is well-positioned to capitalize on emerging opportunities in the EV segment, with a focus on innovation and quality.
Minda Corporation’s impressive Q1 performance has set a positive tone for the company’s FY25, with a strong outlook for the automotive sector. As the company continues to expand its product portfolio and presence in the EV segment, it is expected to drive growth and profitability in the coming quarters.
