GNA Axles Ltd. said higher exports helped the auto parts maker to report growth in the first quarter at a time when the Indian automobile industry is grappling with a demand slowdown.
“The domestic market hasn't contributed that much. So, it's the exports which have helped us,” Executive Director Kulwin Seehra told BloombergQuint in an interview. North America, he said, was a major contributor to the company's 21-percent revenue growth in the April-June period.
Seehra, however, expects growth to “moderate” in the coming quarters. The growth, he said, will come at 8-10 percent.
Here are the key earnings highlights:
(Q1, Year-On-Year)
- Revenue rose 21.4 percent to Rs 258.17 crore.
- Earnings before interest, tax, depreciation and amortisation rose 30.1 percent to Rs 41.3 crore.
- Net profit stood at Rs 18.18 crore against Rs 13.99 crore.
- Margin stood at 16 percent against 14.9 percent.
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