Auto component maker Talbros Automotive on Tuesday reported a multifold rise in consolidated profit to Rs 12.7 crore for the March 2021 quarter, backed by product mix and higher capacity utilisation.
The company had posted a consolidated profit of Rs 2.4 crore in the fourth quarter of 2019-20, according to an investor presentation.
Its income from operations rose 73 per cent to Rs 160.4 crore during the March 2021 quarter, compared with Rs 92.5 crore in the March 2020 quarter.
For the financial year 2020-21, the consolidated profit rose 70 per cent to Rs 24.4 crore as against a profit of Rs 14.3 crore a year ago.
Total income from operations stood at Rs 453.2 crore in 2020-21, a 15.9 per cent growth as compared with Rs 391 crore revenue in 2019-20, Talbros Automotive Components Ltd said in a statement.
The automotive component maker also reported an Ebitda growth of 50 per cent at Rs 64.6 crore in 2020-21 as against Rs 43.1 crore in 2019-20. Ebitda stands for earnings before interest, tax, depreciation and amortisation.
It was aided by the company taking benefit of higher off-take in better priced export business clubbed with various cost saving initiatives, inspite of increasing commodity prices, it said.
During the year, joint venture Marelli Talbros Chassis Systems signed multi-year order with a large European car manufacturer with supplies scheduled to begin from H1FY22, the company stated.
Besides, the company also entered into a technical assistance agreement with its Japanese partner ‘Sanwa Packing Industry Co’ for light-weight aluminum heat shields for the Indian markets, it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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