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New Delhi, Oct 27 (PTI) Sona BLW Precision Forgings Ltd on Monday reported an 18.73 per cent increase in consolidated net profit to Rs 170.47 crore in the September quarter, riding on electric vehicle traction motor and railway business in India. The company, which had posted a consolidated net profit of Rs 143.58 crore in the same quarter last fiscal, said its proposed joint venture in China with Jinnaite Machinery Co Ltd (JNT), announced in July this year, has been put in abeyance. Consolidated revenue from operations in the second quarter stood at Rs 1,138.29 crore as compared to Rs 922.19 crore in the year-ago period, Sona BLW Precision Forgings Ltd said in a regulatory filing. Total expenses in the second quarter were higher at Rs 931.24 crore against Rs 743.33 crore a year ago, the company said. Sona BLW Precision Forgings MD & Group CEO Vivek Vikram Singh said, “We achieved our highest-ever quarterly revenue, EBITDA, and net profit in Q2 FY26. Our revenue grew by 24 per cent year-on-year, primarily driven by the expansion of our electric vehicle traction motor and railway business in India.” Due to the unavailability of heavy rare-earth magnets, he said, “We shifted to alternative motor designs and now manufacture light rare-earth magnet motors for electric two-wheelers.” The company has developed a rare-earth-free ferrite-assisted synchronous reluctance motor for three-wheelers and light commercial vehicles, Singh said. Stating that it was also a successful quarter for business development as the company won several significant new orders, he said, “We have been nominated for two additional programs – one in Asia and the other in Europe – to supply our motors and motor controllers for predictive active suspension systems.” On its proposed JV with Jinnaite Machinery Co Ltd (JNT) announced in July this year, the company said, “In terms of the binding term sheet, the parties were engaged into discussion for finalisation of the definitive documents. The parties have mutually agreed to put the proposed JV in abeyance.” However, the parties have “expressed their willingness to cooperate with each other on select foundry products and remain open for the collaboration in future”. The term sheet executed by the parties for the proposed JV on July 20, 2025, stands rescinded, the filing said. PTI RKL SHW
