Motherson Sumi Q3 profit drops 1% to Rs 555 cr
Revenue from operations, however, rose to Rs 16,233.65 crore on a YoY basis.
By Sharmistha Mukherjee, ET Bureau | Updated:
New Delhi: Auto components major Motherson Sumi Systems Limited (MSSL) on Monday reported a 1% drop in consolidated net profit at Rs 554.99 crore for the third quarter ended December 31, 2018.
The company had posted net profit of Rs 561.71 crore in the corresponding period of the previous financial year.
Consolidated revenues for the company increased 13.7% to Rs 16233.65 crore in the period under review. Total expenses remained largely flat at Rs 13739.18 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 13% to Rs 1415 crore.
Commenting on the results, VC Sehgal, chairman, MSSL said, “All of our operating businesses have performed well under the current market conditions. With the start of production at Tuscaloosa in this quarter, all the key greenfield projects are now completed.”
Shares of Motherson Sumi closed at Rs 132.10 apiece, down by 2.18% on the BSE.
The company had posted net profit of Rs 561.71 crore in the corresponding period of the previous financial year.
Consolidated revenues for the company increased 13.7% to Rs 16233.65 crore in the period under review. Total expenses remained largely flat at Rs 13739.18 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 13% to Rs 1415 crore.
Commenting on the results, VC Sehgal, chairman, MSSL said, “All of our operating businesses have performed well under the current market conditions. With the start of production at Tuscaloosa in this quarter, all the key greenfield projects are now completed.”
Shares of Motherson Sumi closed at Rs 132.10 apiece, down by 2.18% on the BSE.
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