Motherson Sumi Systems Q2 Net up 23.7% to Rs 593.45 cr

Auto component major Motherson Sumi Systems today reported a 23.67 per cent increase in consolidated net profit to Rs 593.45 crore for the second quarter ended September owing to growth in global sales.
The company had posted a consolidated net profit of Rs 479.85 crore in the July-September period a-year-ago, Motherson Sumi Systems Ltd (MSSL) said in a BSE filing.
Its gross sales during the period under review were at Rs 13,338.21 crore, up 30.59 per cent compared to Rs 10,213.79 crore in the corresponding quarter last fiscal.
Commenting on the results, MSSL Chairman Vivek Chaand Sehgal said: "This has been yet another excellent quarter for MSSL with an encouraging growth in both revenues and net profit."

Gross sales within India during the second quarter were up 4.95 per cent at Rs 1,772.09 crore as against Rs 1,688.39 crore in the corresponding period last fiscal.
On the other hand, gross sales from outside India were at Rs 11,566.12 crore, up 35.66 per cent, as against Rs 9,060.29 crore.
Shares of Motherson Sumi Systems Ltd were trading at Rs 357.50 in afternoon trade, down 1.02 per cent from the previous close on BSE.