New Delhi: Auto components maker Motherson Sumi Systems Ltd on Wednesday reported 7.32% increase in consolidated net profit to Rs757.50 crore for the March quarter, or Q4, of 2017-18 (FY18). The company had posted net profit of Rs705.86 crore in Q4 FY17, it said in a BSE filing.
Revenue from operations rose to Rs15,407.83 crore in Q4 compared to Rs11,473.05 crore in the year-ago period. The two figures are not comparable as revenue from operations is reported net of all taxes, including goods and services tax (GST) after its implementation on 1 July 2017.
For FY18, Motherson Sumi’s consolidated net profit rose 4% to Rs2,259.93 as against Rs2,172.38 crore in FY17. Total revenue from operations for the year stood at Rs56,521.30 crore. It was at Rs43,157.03 crore in 2016-17.
On Wednesday, the Motherson Sumi board recommended a dividend of Rs2.25 per share of face value of Re1 for FY18.
“It has been an eventful year, which has seen huge greenfield expansion to enable execution of the orders in the coming years and on the inorganic side the proposed acquisition of Reydel Automotive is on schedule," said Motherson Sumi chairman Vivek Chaand Sehgal.
On Thursday, shares of Motherson Sumi were trading 3.36% lower at Rs323.70 apiece at 2.06pm.