Motherson shares soar nearly 13 per cent on stellar earnings

MUMBAI: Shares of auto component maker Motherson Sumi Systems Ltd ( MSSL) today soared by nearly 13 per cent after the company reported over two-fold increase in consolidated net profit for the third quarter ended December.

MSSL's scrip surged 12.97 per cent to settle at Rs 203.75 on the BSE. In intra-day, the stock shot-up by 14.19 per cent to Rs 205.95.

At the NSE, the scrip settled 12.56 per cent higher at Rs 202.95.

On the volume front, 6.81 lakh shares of the company changed hands on the BSE, while over 43 lakh shares were traded at the NSE during the day.

MSSL today reported over two-fold increase in consolidated net profit at Rs 249.60 crore for the third quarter ended December 31, 2013, primarily on account of robust sales in overseas markets.

The company had posted a consolidated net profit of Rs 103.02 crore in the same period last fiscal, MSSL said in a filing to the BSE.

Net sales during the quarter under review stood at Rs 7,889.83 crore as against Rs 6,547.9 crore in the year-ago period.