Auto parts maker Suprajit Engineering Ltd. on Tuesday said that it has filed the necessary documents with the Germany Government for the voluntary winding-up of its subsidiary Trifa Lamps Germany GmbH.

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Following this, the Federal Ministry of Justice, Germany, has announced that the "company is dissolved”.

However, the status of the Company will remain as "Trifa Lamps Germany GmbH in liquidation" till the completion of remaining regulatory approvals as applicable in Germany.

The Bengaluru-based company said that the entire process is expected to be completed in a year’s time with no material write-downs expected. This was one among the 10 subsidiaries of the company.

In the December quarter, Suprajit Engineering posted a consolidated net profit of Rs 55.72 crore as compared to Rs 31.36 crore in the year-ago period. Its revenue from operations rose to Rs 692.01 crore from Rs 479.27 crore in the same quarter of the preceding fiscal.

The company is engaged in the business of manufacturing and selling automotive and other components. Its auto components primarily comprise control cables, speedo cables, auto lamps, and other components for automobiles and cater to both domestic and international markets.

Shares of Suprajit Engineering are trading 1.74 percent lower at Rs 350.

(Edited by : Rukmani Krishna)