Motherson Sumi Systems Q2 net up 23.7% to Rs593.45 crore
New Delhi: Auto component major Motherson Sumi Systems on Friday reported a 23.67% increase in consolidated net profit to Rs593.45 crore for the second quarter ended September owing to growth in global sales.
The company had posted a consolidated net profit of Rs479.85 crore in the July-September period a-year-ago, Motherson Sumi Systems Ltd (MSSL) said in a BSE filing.
Its gross sales during the period under review were at Rs13,338.21 crore, up 30.59% compared to Rs10,213.79 crore in the corresponding quarter last fiscal.
Commenting on the results, MSSL chairman Vivek Chaand Sehgal said: “This has been yet another excellent quarter for MSSL with an encouraging growth in both revenues and net profit.”
Gross sales within India during the second quarter were up 4.95% at Rs1,772.09 crore as against Rs1,688.39 crore in the corresponding period last fiscal.
On the other hand, gross sales from outside India were at Rs11,566.12 crore, up 35.66%, as against Rs9,060.29 crore.
Shares of Motherson Sumi Systems Ltd were trading at Rs357.50 in afternoon trade, down 1.02% from the previous close on BSE.
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