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UNO Minda Q1 Results 2024, Company Reports 12% Increase in Profit
Uno Minda Limited’s Q1 2024 results show a slight dip in standalone revenue to ₹2,451.55 crore and a decline in net profit to ₹122.96 crore, while consolidated revenue increased to ₹3,817.51 crore but net profit decreased to ₹210.80 crore.
by P Nandhini
Updated Aug 07, 2024
Table of Content
Uno Minda Limited has recently released its financial results for the first quarter of 2024, showcasing a mixed performance. For the quarter ending June 30, 2024, the company's standalone revenue from operations reached ₹2,451.55 crore, slightly down from ₹2,486.25 crore in the previous quarter.
Despite this, the company reported a net profit of ₹122.96 crore, which is lower compared to ₹153.20 crore from the previous quarter. This decline in profit can be attributed to higher expenses and a decrease in other comprehensive income.
On a consolidated basis, Uno Minda's revenue from operations was ₹3,817.51 crore, showing a modest increase from ₹3,794.02 crore in the previous quarter. The consolidated net profit for the period was ₹210.80 crore, down from ₹301.72 crore previously.
The company's board also made significant decisions, including the appointment of a new director, the approval of financial results, and plans to acquire equity shares in Minda Onkyo India Private Limited. These results reflect the company’s ongoing adjustments and strategic moves amid a dynamic automotive industry landscape.
UNO Minda Q1 Results 2024
Here’s a summary of Uno Minda Limited's financial performance for the first quarter of 2024. The results highlight key figures such as revenue, net profit, and changes in financial performance compared to the previous quarter. Below is a detailed breakdown:
| Metric | Standalone Q1 2024 | Standalone Q4 2023 | Consolidated Q1 2024 | Consolidated Q4 2023 |
|---|---|---|---|---|
| Revenue from Operations | ₹2,451.55 crore | ₹2,486.25 crore | ₹3,817.51 crore | ₹3,794.02 crore |
| Net Profit | ₹122.96 crore | ₹153.20 crore | ₹210.80 crore | ₹301.72 crore |
| Total Expenses | ₹2,328.59 crore | ₹2,333.05 crore | ₹3,520.71 crore | ₹3,437.90 crore |
| Other Comprehensive Income | ₹8.23 crore | ₹15.10 crore | ₹5.45 crore | ₹20.25 crore |
| Earnings Per Share (EPS) | ₹1.72 | ₹2.19 | ₹2.92 | ₹4.16 |
| Appointment of New Director | Yes | No | Yes | No |
| Approval of Financial Results | Yes | Yes | Yes | Yes |
| Planned Acquisition | Minda Onkyo India Pvt Ltd | - | Minda Onkyo India Pvt Ltd | - |
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UNO Minda Limited
Uno Minda Limited is a leading company in the automotive components sector based in India. They design and manufacture a wide range of products including automotive lighting systems, horns, and electronic components.
Known for their innovation and quality, Uno Minda serves various car manufacturers and aims to enhance vehicle safety and comfort. With a focus on growth and expansion, the company continues to invest in new technologies and global markets.
UNO Minda Q1 Results 2024 - FAQs
1. What was Uno Minda's consolidated revenue for Q1 2024?
The consolidated revenue for Uno Minda in Q1 2024 was ₹3,817.51 crore, indicating a small increase from the previous quarter.
2. How did the net profit in Q1 2024 compare to Q4 2023?
The net profit decreased from ₹153.20 crore in Q4 2023 to ₹122.96 crore in Q1 2024, reflecting lower profitability.
3. What was the net profit for Uno Minda in Q1 2024?
Uno Minda reported a net profit of ₹122.96 crore for Q1 2024, which is a decrease compared to the previous quarter.
4. What were Uno Minda's total expenses for Q1 2024?
The total expenses for Uno Minda in Q1 2024 amounted to ₹2,328.59 crore, which is a slight reduction compared to the previous quarter.
5. How did total expenses in Q1 2024 compare to Q4 2023?
Total expenses decreased from ₹2,333.05 crore in Q4 2023 to ₹2,328.59 crore in Q1 2024, showing a marginal reduction.
6. Was a new director appointed in Q1 2024?
Yes, Uno Minda appointed a new director in Q1 2024, as part of its strategic moves.
7. How did the EPS in Q1 2024 compare to Q4 2023?
The EPS decreased from ₹2.19 in Q4 2023 to ₹1.72 in Q1 2024, indicating reduced earnings per share.
8. Where is Uno Minda Limited headquartered?
The company is headquartered in New Delhi, India.
9. What are some of Uno Minda's key products?
Key products include automotive lighting systems, horns, switches, and electronic components. These products cater to both passenger and commercial vehicles.