Motherson Sumi consolidated net profit dips 42% in Q1

Auto component major Motherson Sumi Systems Limited (MSSL) Monday reported 42 per cent decline in consolidated net profit at Rs 360.64 crore for the first quarter ended June 30, 2019.

Revenues from operations during the period under consideration went up 14 per cent to Rs 16792.63 crore. Total expenses last quarter rose 17 per cent to Rs 16329.96 crore.

Vivek Chaand Sehgal, Chairman, MSSL said, “The Greenfield plants of SMP are showing slow continuous improvement and we expect the trend to continue provided there is no further global slowdown. We are pleased with the continued robust performance of PKC Group as well as other businesses. We continue to focus on managing cash flows and debt, and in improving operational efficiency.”