Motherson Sumi Q3 net up 21% at Rs 307 crore

NEW DELHI: The country’s largest auto parts maker Motherson Sumi Systems Ltd ( MSSL) today reported a 21 per cent increase in net profit at Rs 307 crore for the quarter ended 31 December.

The company’s consolidated revenues stood at Rs 9,676 crore during the quarter as against Rs 8,950 crore in the year-ago period.

The results, in which profit growth is even stronger than revenue growth, reflect the solid operational improvements the company is making, the company said in a statement.

The performance is all the more encouraging in the light of the worries that surround the global automotive industry in the third quarter, it added.

MSSL’s chairman Vivek Chaand Sehgal said, "We continuously look for ways to improve the performance of each unit around the world. That way, we strengthen our support to customers from the bottom up and adapt to the evolving requirements of the market."

MSSL also announced an update on 17 plants commissioned around the world, across its major product verticals, out of which seven have already been completed.