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Sona BLW Precision Forgings Soars 3.4% as Q3 Net Profit Jumps 24% YoY

24 Jan 2024 , 11:16 AM

Sona BLW Precision Forgings’ shares increased 3.4% in morning trading on January 24 to Rs 599 following the company’s announcement of a 24% year-over-year (YoY) increase in net profit for the third quarter, which came in at Rs 113.6 crore.

During the same period in the previous fiscal year, the company’s operating revenue increased significantly, rising by 15.8% to Rs 781.80 crore from Rs 675.30 crore.

As of 10:55 a.m., the stock was trading at Rs 591 on the NSE, up 2% from the previous close. The stock has returned more than 35% over the past year.

In comparison to Rs 176.5 crore during the same period in the previous fiscal year, EBITDA increased by about 32% to Rs 232.5 crore in the third quarter of this fiscal year. The reporting quarter’s EBITDA margin increased to 29.7 percent from 26.1% in the corresponding time last year.

Thanks to five new BEV (battery electric vehicle) program wins, the company’s net order book has increased to its highest level at Rs 24,000 crore, up from Rs 21,500 crore as of March 31, 2023. income from battery electric vehicles (EVs) increased by 28% YoY in Q3 of FY24 to Rs 222 crore, or 30% of total income.

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Sona BLW Precision Forgings IPO:Issue Date, Price, Lot Size, Review &  Details -Motilal Oswal

Related Tags

  • EV
  • Q3
  • result
  • Sona BLW
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