Uno Minda Q2 Results: Stock rises 8% after net profit rises, margin expands

Shares of Uno Minda Ltd. surged as much as 8% on Tuesday, November 12, after the company's September quarter results, which saw a rise on a year-on-year basis on most parameters.

The Gurugram-based auto component manufacturer reported a net profit of ₹245 crore, a 9% increase from ₹225 crore that it posted during the same quarter last year.

Revenue for the period increased by 17% from the year-ago quarter to ₹4,245 crore. The company had reported a topline of ₹3,621 crore last year.

Earnings Before Interest, Tax, Depreciation and Amortisation stood at ₹482.4 crore for the September quarter, while margin expanded by 300 basis points to 11.4% from 11.1% last year.

On the charts, the Relative Strength Index (RSI) is at 37.5. An RSI reading below 30 is considered oversold and above 70 overbought. The market capitalisation of the stock has also crossed ₹57,000 crore in today's trading session.

Shares of Uno Minda Ltd. are currently trading 7.72% higher at ₹993. The stock is now up 45% so far in 2024 and has risen 58% in the last 12 months.