Auto component maker Sona Koyo Steering Systems today reported over three-fold jump in its consolidated net profit for the quarter ended June 30, 2011, to Rs 16 crore.
The company had posted a net profit of Rs 4 crore in the corresponding period last year, Sona Koyo Steering Systems said in a statement.
The consolidated net sales during the quarter also increased by 45.5% to Rs 337 crore from Rs 232 crore in the year-ago period, it added.
Reacting to the numbers, the shares of the company were trading 8.97% up at Rs 17 apiece on the Bombay Stock Exchange in the late afternoon trade.