Sona Koyo Q2 net up at Rs 13 cr

Company posted net profit of Rs 6.94 crore for Q2 of the previous fiscal

Auto components maker Sona Koyo Steering Systems today reported a big jump in consolidated net profit at Rs 12.62 crore for the second quarter ended September 30, 2013-14.

It had posted net profit of Rs 6.94 crore for Q2 of the previous fiscal, 2012-13, Sona Koyo Steering Systems said in a filing to the BSE.

Net sales of the company stood at Rs 383.92 crore during the Q2, 2013-14, up 16.93% compared with Rs 328.32 crore for the same period year ago.

Finance cost during the quarter was at Rs 11.03 crore as against Rs 8.88 crore in the same quarter last year.

Overall, expenses during the quarter were at Rs 350.25 crore as against Rs 310.45 crore in the year-ago period.

Sona Koyo Steering Systems scrip closed at Rs 14.92 on the BSE, up 10.76% from its previous close.