Uno Minda limited (Uno Minda) has announced its results for quarter ended June 30th 2023, the company on Wednesday announced through an exchange filing.
Consolidated Performance
At a consolidated level, the company reported a strong revenue growth with revenue of Rs 3,093 crore for Q1FY24 as against Rs 2,555 crore in the Q1FY23, registering a rise of 21 percent. The company has witnessed growth across products segment led by Automotive lighting and Alloy wheel. The company outperform the industry with the growth of 21 percent against the industry volume growth of 2 percent YoY basis.
EBITDA
The EBITDA for Q1FY24 has been reported as Rs 330 crore against Rs 266 crore in Q1FY23, growth of 24 percent. EBIDTA margins also expanded by 27 bps YoY to 10.7 percent per annum driven by benefits of operating leverage, part of which gets offset by cost escalations.
"In a constantly evolving automotive industry, our company in Q1FY24 has showcased remarkable growth and resilience, withstanding market challenges and emerging as a frontrunner in the automotive sector," said Nirmal K Minda, CMD, Uno Minda Group.
Profit before tax and profit after tax
Profit before tax for Q1FY24 is at Rs 194 crore as against Rs 159 crore in Q1FY23. Profit after tax (PAT) (UML Share) for the financial year is Rs 173 crore in Q1FY24 as against Rs 139 crore in Q1FY23, an increase of 24 percent.
"The company has delivered another quarter of stellar performance with growth witnessed across product segment. Automotive Lighting and Alloy wheel segment has emerged as most exciting segment significantly contributing to our growth in recent quarters," said Sunil Bohra, Group CFO & CEO, Safety and Comfort Systems, Uno Minda Group.
Uno Minda limited shares
The shares of Uno Minda on Wednesday at 2:27 pm IST were at Rs 575.20, down by 1.37 percent.
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