Mumbai: Motherson Sumi Systems Ltd, a Delhi-based auto component supplier, on Tuesday reported a consolidated net profit of Rs.103.02 crore for the third quarter ended 31 December. It had posted net loss of Rs.24.72 crore in the same period last fiscal year.
Consolidated net sales at the firm, which counts most car makers in India and abroad as its clients, rose to Rs.6,547.90 crore from Rs.3,772.34 crore a year earlier, the company said in a statement.
The revenue, 83% of which is accounted for by the company’s overseas operations, was bumped up by supplies to European car makers such as Volkswagen group. Volkswagen group of companies account for 60% of Motherson Sumi’s business.
The company’s shares gained 0.37% to Rs.190.45 on BSE while the benchmark Sensex expanded 0.52% to 19,561.04 points.