Motherson Sumi Systems Q4 net down 2 pc at Rs 138.90 cr

NEW DELHI: Auto component maker Motherson Sumi Systems Ltd today reported a 2.1 per cent decline in its net profit for the fourth quarter ended March 31, 2011 at Rs 138.90 crore.

The company had posted a net profit of Rs 141.89 crore in the same period a year ago, Motherson Sumi Systems Ltd ( MSSL) said in a statement.

Total income during the fourth quarter of FY11 stood at Rs 2,355.97 crore, as against Rs 2,027.89 crore in the year- ago period, it added.

During the quarter, consumption of raw material cost saw 20.74 per cent increase to Rs 1,486.13 crore, from Rs 1,230.77 crore in the same period in the previous fiscal.

The company said it has declared a dividend of Rs 2.75 per share for the full year 2010-11 as compared to Rs 1.75 per share in 2009-10.

For the full year ended March 31, 2011 net profit stood at Rs 390.80 crore as against Rs 242.75 crore in the same period a year ago, it said.

Total income for the year was at Rs 8,371.05 crore as against Rs 6,923.98 crore in the previous fiscal.

Commenting on the results, MSSL Vice-Chairman Vivek Chaand Sehgal said the company's growth has been aided by the robust growth in the domestic automotive industry.

MSSL scrips were trading at Rs 226.00 per share in the afternoon trade on the BSE, up 1.23 per cent from the previous close.