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Auto component maker Motherson Sumi Systems Ltd today reported nearly nine-fold rise in its consolidated net profit at Rs 73.20 crore for the first quarter ended June 30, 2013.
The company had a consolidated net profit of Rs 8.14 crore in the same period of previous fiscal, Motherson Sumi Systems Ltd (MMSL) said in a filing to the BSE.
Consolidated income of the company from its operation stood at Rs 7,013.38 crore in the April-June quarter, compared to Rs 6,277.24 crore during the same period of previous fiscal.
"The result reflects exceptional performance in the not so favourable market," MMSL Chairman V C Sehgal said.
Company's consolidated revenue from its automotive segment was Rs 6,943.92 crore this quarter as against Rs 6,235.80 crore of the same period of last fiscal.
However, MMSL's consolidated revenue from non automotive segment decreased to Rs 145.54 crore this quarter. It was Rs 159.37 crore in first quarter of the last year.
MMSL is a joint venture between Samvardhana Motherson Group and Japan-based Sumitomo Wiring Systems. The company is one of the leading manufacturers of automotive rear view mirrors, instrument panels, bumpers and door trims. It has presence in 25 countries across six continents.
The company's shares were trading at Rs 193.45 apiece on BSE during the afternoon trade, down 2.96% from their previous close.
