Minda Corp posts Rs 59 crore profit in Q2 FY2024
Minda Corporation has announced its financial results for Q2 FY2024. The company reported revenue of Rs 1,196 crore, up 7% YoY, net profit of Rs 59 crore, up 4.9 percent.
The growth was driven by robust demand in the domestic market, an increasing share of business with key customers, and product premiumisation, despite continuing headwinds from exports on the back of geo-political issues.
During the quarter, the company secured its highest-ever lifetime orders of more than Rs 6,500 crore in H1FY24 with electric vehicles (EVs) constituting more than 30% of the orders won during the quarter.
