Samvardhana Motherson Q1 results: Net profit surges over four-fold to Rs 601 crore

Auto components maker Samvardhana Motherson International Ltd (SAMIL) on Thursday said its consolidated net profit jumped over four-fold to Rs 601 crore for the first quarter ended June 30, 2023.

The company had reported a net profit of Rs 141 crore for the April-June quarter of last fiscal.

Total revenue from operations rose to Rs 22,462 crore in the June quarter as against Rs 17,654 crore in the year-ago period, SAMIL said in a regulatory filing.

"We have delivered another quarter of strong performance. The automotive industry is stabilising with new cost structures and Motherson continues to adapt to the evolving landscape," Motherson Chairman Vivek Chaand Sehgal said.

SAMIL is working in close collaboration with customers, and to better serve them in these challenging times it has closed seven acquisitions with their support, he added.

"These acquisitions will further increase our value added content and will provide new growth opportunities for Motherson," Sehgal said.

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