Motherson Sumi Q1 net rises over two-fold to Rs 163.73 crore

Tags: Companies
Auto components maker Motherson Sumi Systems Ltd today reported over two-fold increase in consolidated net profit at Rs 163.73 crore for the quarter ended June 30 due to higher sales outside India.

It had posted a net profit of Rs 73.2 crore in the same period of previous fiscal, the company said in a BSE filing.

Net sales of the company during the quarter ended June 30 stood at Rs 8,296.43 crore, up 18.29 per cent as against Rs 7,013.38 crore in the corresponding period of last year.

During the quarter, sales within India went up by 8.95 per cent to Rs 1,248.32 crore while sales outside India increased by 20.11 per cent to Rs 7,048.11 crore.

Commenting on the result, Motherson Sumi Systems Ltd Chairman V C Sehgal said: "The company continues to deliver exceptional performance both in terms of revenue and profitability."

Shares of Motherson Sumi Systems were trading 3.26 per cent down at Rs 358.50 during afternoon trade on the BSE.

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