Uno Minda Q1FY24 results; shown 20% rise in net profit!

Uno Minda has reported results for the first quarter ended June 30, 2023 or Q1FY24. The company has reported a 49.79% rise in its net profit at Rs 135.16 crore for the quarter under review as compared to Rs 90.23 crore for the same quarter in the previous year. The total income of the company increased by 19.43% at Rs 1,988.36 crore for Q1FY24 as compared to Rs 1,664.89 crore for the corresponding quarter previous year. 

On a consolidated basis, the company has reported a 20.22% rise in net profit at Rs 180.17 crore for the first quarter ended June 30, 2023, as compared to Rs 149.87 crore for the same quarter in the previous year. The total income of the company increased by 20.88% at Rs 3,100.47 crore for Q1FY24 as compared to Rs 2,564.87 crore for the corresponding quarter previous year. 

UNO Minda is engaged in the business of manufacturing auto components including auto electrical parts and accessories and caters to both domestic and international markets. It manufactures automobile components for Original Equipment Manufacturers (OEMs). Minda Industries Limited is a public company domiciled and headquartered in India. 

UNO Minda is currently trading at Rs 585.75, up by 10.30 points or 1.79% from its previous closing of Rs 575.45 on the BSE. The scrip opened at Rs 577.65 and has touched a high and low of Rs 586.55 and Rs 577.65 respectively. So far 7146 shares were traded on the counter. 

The BSE group ‘A’ stock of face value of Rs 2 has touched a 52-week high of Rs 609.80 and a 52-week low of Rs 433.00. Last one week high and low of the scrip stood at Rs 591.50 and Rs 568.10 respectively. The current market cap of the company is Rs 33411.28 crore. The promoters holding in the company stood at 70.05%, while Institutions and Non-Institutions held 23.64% and 6.30% respectively. 

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