BackMotherson Sumi Q1 net profit up 123.6% at Rs163.73 crore
Consolidated net sales during the quarter stood at `8,296.43 crore, up 18% from `7,013.38 crore in the year-ago period
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Mumbai: Auto components maker Motherson Sumi Systems Ltd on Tuesday reported a sharp jump of 123.6% in consolidated net profit at ₹ 163.73 crore for the quarter ended 30 June. The company had reported net profit of ₹ 73.20 crore in the same period a year earlier.
Consolidated net sales during the quarter stood at ₹ 8,296.43 crore, up 18% from ₹ 7,013.38 crore in the year-ago period.
“The company continues to deliver exceptional performance both in terms of revenues and profitability," chairman V.C. Sehgal said in a statement. “We thank all our customers and other stakeholders for their continued trust and confidence."
Consolidated revenue from the automotive segment increased by 18.67% to ₹ 8,227.75 crore during the quarter, while revenue from non-automotive segment increased by 8.52% to ₹ 157.95 crore.
Motherson Sumi is a joint venture between Samvardhana Motherson Group and Japan-based Sumitomo Wiring Systems.
At 2.50pm, shares of the firm were trading lower by 3.37% to ₹ 358.10, while the benchmark Sensex was up 1.17% to 25,816.91 points.
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