 "Motherson Sumi's Q4 consolidated net profit up 12%")
Specialised auto component manufacturer Motherson Sumi Systems (MSSL) on Friday reported an increase of 12 per cent in its consolidated net profit for the fourth quarter (Q4) of 2016-17.
According to the company, its consolidated net profit during the quarter under review increased to Rs 475 crore from Rs 425 crore in the corresponding period of 2015-16.
Motherson Sumi Systems' consolidated revenue during the quarter under review rose by 15 per cent to Rs 11,100 crore from Rs 9,663 crore.
On a full financial year 2016-17 basis, the company reported that its cnsolidated net profit increased by 20 per cent to Rs 1,554 crore from Rs 1,292 crore in 2015-16.
Motherson Sumi Systems' revenue during the fiscal under review edged higher by 15 per cent to Rs 41,985 crore from Rs 36,580 crore.
"We are thrilled with the results for the financial year 2016-17. This is the second year of our five-year plan for 2020 and we are closing it on an all-time high for MSSL. We see very exciting times ahead," said Vivek Chaand Sehgal, MSSL's Chairman.
"SMR and SMP have seen strong customer orders, giving them a fantastic outlook. And our wiring harness division has been strengthened by recent acquisition of PKC Group. This brings great new opportunities for supporting the OEM's around the world."