Motherson Sumi stocks up 8% post strong Q4 results

Shares of Motherson Sumi Systems closed up over 8% on Tuesday after the company posted record  nearly 22% rise in consolidated net profit for the fourth quarter (Q4) ended March 31. 

The stock of Motherson Sumi Systems closed up 8.36% or Rs 22.40 at Rs 290.45 per scrip on the Bombay Stock Exchange (BSE). 

The company's stock surged up 10.57% to the high of Rs 296.40 during the day.

The company's consolidated net profit was up by 21.76% to Rs 414 crore during the quarter as against Rs 340 crore in the same period of previous fiscal, Motherson Sumi Systems said in a filing to the Bombay Stock Exchange (BSE). 

The total revenues of the company rose up by 8% to Rs 10,068 crore during the period as compared to Rs 9,322 crore in the year-ago period.

"It is the first time in the company history that it achieved revenues of more than Rs 10,000 crore in a quarter," the company said in a statement.  

The company's EBITDA witnessed a growth of 14% to Rs 1,061 crore as against Rs 932 crore in the corresponding period of previous fiscal. 

“It has been a good year to further enhance our performance. We are seeing huge capacity expansion at Samvardhana Motherson Peguform (SMP) at the request of customers. Operational improvements have been put in place and we have an exciting innovation pipeline, across Motheson Sumi Systems Ltd (MSSL) companies,”  Motheron Sumi's Chairman Vivek Chaand Sehgal said in a statement.