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GNA Axles announced that Ministry of Corporate Affairs (MCA) has approved the incorporation of its subsidiary, GNA Mobility on 22 February 2025.
The company has been incorporated to manufacture a wide range of parts and accessories for motor vehicles.
As part of the incorporation, the company has fully subscribed to 50,000 shares of GNA Mobility, each with a face value of Rs 10.
GNA Axles manufactures auto components for the four-wheeler industry, primary product being Rear Axles, Shafts, Spindles & other Automobiles Components for sale in domestic and foreign market.
The company's consolidated net profit climbed 12.91% to Rs 25.36 crore in Q3 FY25 as compared with Rs 22.46 crore in Q3 FY24. Revenue from operations increased 5.06% YoY to Rs 375.06 crore in Q3 FY25.
The counter fell 0.86% to end at Rs 311.65 on Friday, 21 February 2025.
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