Auto component maker Sona Koyo Steering Systems today reported a profit after tax (PAT) of Rs 6.89 crore for the quarter ended December 31, 2009, on account of improved efficiencies and stable foreign exchange rates.
The company had posted a loss of Rs 17.24 crore in the corresponding period last fiscal, Sona Koyo Steering Systems said in a statement.
The net sales of the company during the third quarter surged by 47.17 per cent to Rs 221.21 crore from Rs 150.31 crore in the year-ago period, it added.
The company attributed its return to profitability to internal initiatives to improve efficiencies and a relatively stable foreign exchange, the statement said.