Sona BLW Faces Profit Dip Amid Crucial New Ventures

Sona BLW Precision Forgings has unveiled its financial results for the June quarter, revealing a 14% drop in net profit year-on-year to Rs 122 crore. This is a decrease from the Rs 142 crore reported in the same period last year.

Total income for the auto component leader fell slightly from Rs 900 crore to Rs 895 crore. Despite facing temporary challenges, MD and Group CEO Vivek Vikram Singh highlighted Sona BLW's robust order acquisitions.

The company secured a sizable order from a North American OEM for differential assemblies, marking its largest win in over two years. Additionally, it announced a joint venture with JNT in China, signaling its intent to expand into Asian markets.

(With inputs from agencies.)