Motherson Sumi Systems shares down 4% post Q1 results

Shares of auto component major Motherson Sumi Systems Ltd today fell by nearly 4 per cent after the company reported 20.95 per cent decline in consolidated net profit for the first quarter ended June 30.
The stock slipped 3.79 per cent to settle at Rs 317.50 on BSE. Intra-day, it lost 8.10 per cent to Rs 303.25.
At NSE, shares of the company dipped 3.52 per cent to close at Rs 317.45.
Motherson Sumi Systems Ltd today reported 20.95 per cent decline in consolidated net profit to Rs 347.32 crore for the first quarter ended June 30.
The company had posted a consolidated net profit of Rs 439.36 crore in the same period last fiscal, Motherson Sumi Systems Ltd (MSSL) said in a BSE filing.

Gross sales during the period under review was at Rs 13,194.80 as against Rs 10,626.27 crore in the year-ago quarter, a growth of 24.17 per cent.