Gurugram (Haryana) [India], May 21 (ANI): JTEKT India, the largest manufacturer of steering systems for passenger car and utility vehicle market in the country, said on Tuesday its revenue on standalone basis increased 7 per cent to Rs 1,293 crore in 2018-19 as compared to Rs 1,207 crore in the previous year.
The operating profit moved up from Rs 62.5 crore in FY18 to Rs 64.5 crore in FY19. The profit after tax jumped 60 per cent from Rs 31 crore to Rs 49 crore. It included dividend of Rs 10 crore received from subsidiary and associate.
Established in 1984, JTEKT India was earlier known as Sona Koyo Steering Systems. It caters to passenger cars, utility vehicles and light commercial vehicles. The company gets its technology from JTEKT Corporation of Japan (earlier known as Koyo Seiko Company) which is the largest producer of passenger vehicles' steering systems in the world.
JTEKT India's customer base includes major vehicle manufacturers like Maruti Suzuki, Toyota, Tata Motors, MahindraMahindra, General Motors, Fiat India, Isuzu Motors, Renault India, Honda and Nissan.
The company has operations across the country through its eight plants (two in Gurugram, three in Dharuhera, one in Bawal, one in Chennai and one in Sanand. (ANI)