Motherson Sumi Q1 profit falls 21% to Rs347 crore, misses estimates
Bengaluru: Auto parts maker Motherson Sumi Systems Ltd reported a 21% fall in quarterly profit, missing analyst estimates.
Profit fell to Rs347 crore in its first quarter ended 30 June, from Rs439 crore a year earlier, the company said on Thursday. Net sales outside India rose 25.5% to Rs11,370 crore, while total expenses were up 26%.
Analysts had on average expected the company to post a profit of Rs476 crore, according to Thomson Reuters data.