Motherson Sumi Q2 net up 1.49% to Rs 139.63 crore

Company reported a consolidated net profit of Rs 138 crore in the same period of previous fiscal

Auto component maker Motherson Sumi Systems Ltd today reported 1.49% increase in consolidated net profit at Rs 139.63 crore for the second quarter ended September 30, 2013.

The company had reported a consolidated net profit of Rs 137.58 crore in the same period of previous fiscal, Motherson Sumi Systems Ltd (MSSL) said in a BSE filing.

Net sales during the quarter under review stood at Rs 7165.73 crore, up 23.53% as compared to Rs 5,800.55 crore in the corresponding quarter last year.

The company's consolidated income from its operations stood at Rs 7,243 crore in the July-September quarter as against Rs 5,890.52 crore during the same period last year.

Commenting on the company's performance, MSSL Chairman V C Sehgal said: "Both domestic and overseas business of the company showed robust performance despite month long annual shutdown in Europe due to summer holidays."

The company's consolidated revenue from automotive segment stood at Rs 7,073.54 crore in this quarter as against Rs 5,724.88 crore in the same period last fiscal.

However, MSSL's consolidated revenue from non-automotive segment decreased to Rs 166.51 crore this quarter. It was at Rs 171.04 crore in corresponding quarter last year.

MSSL is a joint venture between Samvardhana Motherson Group and Japan-based Sumitomo Wiring Systems.

The company's shares were trading at Rs 264.60 per scrip during afternoon trade at BSE, down 2.07% from the previous close.