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Shares of Motherson Sumi Systems are trading lower by 5% at Rs 370 on the BSE after the company reported a lower-than-expected net profit of Rs 266 crore for the quarter ended June 30, 2015 (Q1). The auto parts and equipment makers had posted a profit of Rs 164 crore in the same quarter last year.
Total income from operations in the quarter under review grew by 12% at Rs 9,385 crore against Rs 8,392 crore in the corresponding quarter of previous year.
Analysts on an average had expected profit of Rs 327 crore and revenues of Rs 9,558 crore for the quarter.
Meanwhile, the stock had touched a record high of Rs 395 in an intra-day trades today before the announcements of results. Thus far in 2015, the stock has outperformed the market by surging 28% compared to a 2.6% rise on the S&P BSE Sensex till yesterday.
Total income from operations in the quarter under review grew by 12% at Rs 9,385 crore against Rs 8,392 crore in the corresponding quarter of previous year.
Analysts on an average had expected profit of Rs 327 crore and revenues of Rs 9,558 crore for the quarter.
Meanwhile, the stock had touched a record high of Rs 395 in an intra-day trades today before the announcements of results. Thus far in 2015, the stock has outperformed the market by surging 28% compared to a 2.6% rise on the S&P BSE Sensex till yesterday.
