Sona Koyo Steering Q1 net profit soars over three-fold

NEW DELHI: Auto component maker Sona Koyo Steering Systems today reported over three-fold jump in its consolidated net profit for the quarter ended June 30, 2011, to Rs 15.7 crore.

The company had posted a net profit of Rs 4.2 crore in the corresponding period last year, Sona Koyo Steering Systems said in a statement.

The consolidated net sales during the quarter also increased by 45.47 per cent to Rs 337.5 crore from Rs 232 crore in the year-ago period, it added.

Reacting to the numbers, the shares of the company were trading 8.97 per cent up at Rs 17 apiece on the Bombay Stock Exchange in the late afternoon trade.