Motherson Sumi Q1 net profit at Rs 8 crore

NEW DELHI: Motherson Sumi Systems Ltd today posted a consolidated net profit of Rs 8.14 crore for the first quarter ended June 30, 2012.

The company had posted a net profit of Rs 65.27 crore during the same period of previous fiscal, Motherson Sumi Systems said in a statement.

Net sales of the company stood at Rs 6,277.24 crore during the first quarter ended June 30, 2012. It stood at Rs 2,271.57 crore during the same period of 2011-12 fiscal.

The company said figures of the current quarter are not comparable with those of the corresponding period of previous fiscal due to company's acquisition of stake in Peguform GmBh and Peguform Iberica on November 23, 2011.

The company's board, which met today, recommended issue of bonus shares in the ratio of 1:2, 1 share for 2 shares held, subject to the approval of the shareholders.

Shares of Motherson Sumi Systems were trading at Rs 172 on the BSE in late afternoon trade, up 5.59 per cent from its previous close.