Motherson Sumi gains post Q3 results

Shares of auto component maker Motherson Sumi Systems are trading higher by 3% to Rs 452 on the BSE after the company posted a 1.84% rise in consolidated net profit at Rs 254.21 crore for the third quarter ended December 31, 2014 as compared to Rs 249.6 crore in the same period last fiscal.

Further, net sales during the quarter under review stood at Rs 8,948.81 crore, up 13.42% as against Rs 7,889.83 crore in the year-ago period, MSSL said in a filing to the BSE.

Commenting on company's performance, Motherson Sumi Systems Ltd Chairman V C Sehgal said that the strong revenue growth, improved operational performance coupled with prudent financial management has resulted in the company consistently outperforming the market. As the global markets are also picking up, we expect the company to keep on delivering exceptional performance, he added.

The stock opened at Rs 438, touched a high of Rs 457 on the BSE. A total of 437,603 shares changed hands on the BSE so far.