Minda Corp shares dip over 4 pc despite robust Q3 show

New Delhi, Feb 14 (PTI) Shares of auto component maker Minda Corporation fell by over 4 per cent today even as the company reported nearly 78 per cent jump in net profit for the third quarter ended December 2017.

On BSE, the shares of the firm settled at Rs 202.80, down 4.27 per cent from the previous close.

The stock dipped 4.38 per cent to end at Rs 203 on NSE.

In terms of equity volume, 41,000 shares of the company were traded on BSE and 3.67 lakh scrips changed hands on NSE during the day.

Minda Corporation today reported 77.96 per cent jump in net profit at Rs 37.87 crore for the third quarter ended December 31, 2017.

The company had posted a consolidated net profit of Rs 21.28 crore in the same period last fiscal.

Revenue from operations rose to Rs 636.2 crore, from Rs 544.83 crore in the year-ago period.

The two figures are not comparable as after GST implementation, revenue from operations is net of GST, but earlier excise duty formed a part of expenses, the company said. PTI VRN SBT