Uno Minda delivers a strong financial performance for Q1 FY24
Profit before tax for Ql FY24 is at 194 Cr as against 159 Cr in Ql FY23. PAT (UML Share) for the financial year is 173 Cr in Ql FY24 as against 139 Cr in Ql FY23, an increase of 24%..
Gurugram- Uno Minda Limited., has announced its results for quarter ended June 30th 2023. At a consolidated level, the company reported a strong revenue growth with revenue of 3,093 Cr for Ql FV24 as against 2,555 Cr in the Ql FY23, registering a rise of 21%. The company has witnessed growth across products segment led by Automotive lighting and Alloy wheel. The company continues to outperform the industry with growth of 21% against the industry volume growth of 2% YoY basis.
The EBITDA for Ql FY24 has been reported as 330 Cr vis-a-vis 266 Cr in Ql FY23, a growth of 24%. EBIDTA margins also expanded by 27 bps YoY to 10.7% pa driven by benefits of operating leverage, part of which gets offset by cost escalations. Profit before tax for Ql FY24 is at 194 Cr as against 159 Cr in Ql FY23. PAT (UML Share) for the financial year is 173 Cr in Ql FY24 as against 139 Cr in Ql FY23, an increase of 24%.
Mr. Nirmal K Minda, CMD, Uno Minda Group said, "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. Our dedicated teams have tirelessly pursued innovation and excellence, enabling us to introduce ground-breaking technological advancements that set new benchmarks within the industry. This relentless pursuit of excellence has not only propelled an increase in revenue and profitability but also cemented our commitment towards customer satisfaction."
Sunil Bohra, Group CFO & CEO, Safety and Comfort Systems, Uno Minda Group said, "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. The customer continues to bestow their faith with key large orders in lighting, wireless chargers, EV specific products etc. With promising industry outlook along with our world class and diversified product portfolio, we will continue outperform the industry in medium to long term
