Motherson Sumi net zooms 176% to Rs 287 cr, stock zooms

Company gets over 85% of its revenue from overseas operations

Automobile component maker Motherson Sumi has reported a 176 per cent jump in consolidated net profit for the September quarter.

Net profit stood at Rs 287 crore and net sales rose 14 per cent to Rs 9,037 crore.

The company saw its overseas business grow 13 per cent to Rs 7,558 crore.

Stock jumped 9.59 per cent to Rs 265.75 at the BSE.

The company said there was no impact of the Volkswagen emission scandal on business so far.

Volkswagen and group firms — Audi and Seat — account for 41 per cent of the firm’s revenue.