Sona BLW Q3 Results: Net profit increased 24% to Rs 133 crore.

Mobility technology company Sona BLW Precision Forgings (Sona Comstar) on Tuesday reported consolidated profit after tax of Rs 133 crore for the three months ended December 2023, up 24% year-on-year. The company recorded consolidated profit after tax. It said Rs 107.10 crore in the December quarter of FY23.
According to the company, total revenue for the third quarter of the current fiscal rose 13 per cent to Rs 777 crore compared to Rs 685 crore reported in the same period last year.

It said its earnings before interest, taxes, depreciation and amortization (EBITDA) for the third quarter of 2024 was Rs 227.3 crore, up 22 per cent compared to Rs 186.2 crore in the same quarter last fiscal.

The company also said net orders rose to an all-time high of Rs 24,000 crore, driven by the success of five new battery electric vehicle (BEV) programmes.

“We achieved our highest quarterly EBITDA, net income, BEV revenue, BEV revenue share and order book in the third quarter of 2024.

“Our BEV revenue grew 28% year-on-year, accounting for 30% of total revenue,” Vivek Vikram Singh, MD and CEO, Sona BLW Precision Forgings Ltd, said in a statement.

He said last quarter was one of its best quarters for business development, adding five new BEV program orders: “We closed last quarter with our highest net order volume ever.” Three of the new BEV programs are for three innovative and unique powertrain solutions.

“With our customer schedules and robust order book, we are confident that electrification will continue to drive strong growth in the short, medium and long term,” he said.