Motherson Sumis Q3 net profit rises by 34% at Rs 416 crore
Vivek Chaand Sehgal, MSSLs Chairman said,The company has shown exemplary growth in all areas and has achieved highest ever revenues and margins in a quarter. This is the reflection of hard work put in by all our teams from around the world.
Motherson Sumi System on Monday stated that the company saw 34% year-on-year (YoY) in consolidated net profit for third quarter ended December 31, 2016 result.
The company reported net profit of Rs 416 crore in Q3, compared to Rs 311 crore in the same quarter of the previous year.
Consolidated total income from operations was at Rs 10,514 crore, growing by 13% from Rs 9287 crore a year ago same period.
Vivek Chaand Sehgal, MSSL’s Chairman said,“The company has shown exemplary growth in all areas and has achieved highest ever revenues and margins in a quarter. This is the reflection of hard work put in by all our teams from around the world."
While consolidated operating profit (EBITDA) was at Rs 1,109 crore, witnessing growth of 23% versus Rs 903 crore in Q3FY16.
On standalone front, the company's revenues grew by 22% to Rs 1,498 crores and EBITDA grew by 46% yoy.
The company's Samvardhana Motherson Reflectec (SMR) unit saw revenue 15% rise and that Samvardhana Motherson Peguform (SMP)'s saw growth of 11% in revenue.
Despite good Q3FY17, the shares of Motherson Sumi was trading at Rs 350 per piece on BSE, down 1.55%.
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